Bitcoin, Ethereum, XRP Consolidate After Trump Strategic Reserve Announcement

Prominent pseudonymous crypto trader Eugene Ng Sio is eyeing a measured approach to the current market conditions following President Trump’s strategic cryptocurrency reserve announcement that sent Bitcoin (CRYPTO BTC) above $94,000 on Sunday.

What Happened: Major cryptocurrencies have slightly retraced following the Sunday rally, with all proposed ‘reserve cryptocurrencies’ trading above Friday’s highs.

Cryptocurrency	Price	24-Hour Performance
Bitcoin BTC/USD	$93,100	+8.7%
Ethereum ETH/USD	$2,370	+7.0%
XRP XRP/USD	$2.67	+18.2%
Solana SOL/USD	$164.36	+16.0%
Cardano ADA/USD	$0.9965	+53.8%

Eugene, who had been “previously very long” before Trump’s announcement, disclosed in a message on his Telegram channel that he has “closed majority of longs” as the risk-reward ratio has shifted.

“At $80,000 BTC / $130 SOL the risk/reward was extremely skewed towards longs, but as of now I think is pretty neutral,” Eugene stated on Monday.

The trader warns that market volatility will continue to challenge traders on both sides. “Late shorts and longs on both side will continue to get clipped and only the disciplined will remain profitable,” he cautioned.

Eugene is adopting a wait-and-see approach, particularly with the upcoming March 7 deadline that could provide clearer direction. “I have not yet formed a view on whether this is a bullish reclaim of range or a bearish underside retest, and will let price tell me especially after 7 March,” he explained, adding that he will “generally keep risk light till then.”

Regarding Trump’s ability to include altcoins like Solana, Cardano, and XRP in the proposed strategic Bitcoin reserve, Eugene expressed skepticism about congressional approval while acknowledging Trump’s track record of achieving his goals.

What Experts Are Saying: Industry leaders have offered varying perspectives on the announcement.

Coinbase CEO Brian Armstrong suggested that a Bitcoin-only reserve would be the “best option,” while BitMEX co-founder Arthur Hayes downplayed the news, stating, “Nothing new here. Just words. Lmk when they get congressional approval.”

Despite market enthusiasm, with BitcoinIRA’s Chris Kline predicting Bitcoin could reach new all-time highs this month, Eugene’s message emphasizes discipline and patience as the market continues to face risks from imminent tariffs on Canada and Mexico.

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