Cardano’s ADA Leads Crypto Drop as Trump Announces Bitcoin Strategic Reserve Instead Of Diversified Pool – Retail Remains Bullish

Altcoin Cardano (ADA) led declines among major cryptocurrencies, dropping as much as 9% over the past 24 hours during U.S. pre-market hours on Friday, after President Donald Trump ruled out a diversified U.S. strategic crypto reserve.

Trump announced late Thursday that his administration would establish a Bitcoin Strategic Reserve made up of BTC previously seized by the government. 

The plan also includes a secondary "crypto stockpile" consisting of any digital assets the government may seize in the future. However, there are no plans for taxpayer-funded acquisitions of Ripple’s XRP (XRP), Solana (SOL), or Cardano.

The decision reversed bullish momentum, which had been built on speculation that a broader range of cryptocurrencies might be included in the reserve.

Ethereum fell 4.3% in the past 24 hours, while XRP dropped 4.4%, and Solana lost nearly 6%, according to CoinGecko dta.

Bitcoin, the centerpiece of Trump’s plan, slipped about 2.7% on Thursday to trade just above $89,000. The broader crypto market declined 3.5%, with total capitalization above $3 trillion.

Investors now focus on the White House Crypto Summit, which is scheduled for Friday morning, though expectations for major policy shifts remain low.

A Stocktwits poll reflected a shift in sentiment. Earlier in the week, retail traders had been equally curious about Bitcoin’s role and the potential inclusion of altcoins in the reserve. However, following Trump’s announcement, enthusiasm for Bitcoin has taken the lead.

Despite the drop, Stocktwits data showed that retail sentiment around ADA remained in the ‘extremely bullish’ zone, with chatter volume at ‘extremely high’ levels. 

Some traders continue to hold out hope that ADA’s inclusion in a “crypto strategic reserve” could still be announced at Friday’s White House event.

Despite its recent slide, Cardano’s price remains up 19.5% for the year and has gained more than 45% over the past week.

Adding to the pressure on ADA, reports indicated that Cardano founder Charles Hoskinson was not invited to the White House summit. Meanwhile, key industry figures, including MicroStrategy’s Michael Saylor and Coinbase CEO Brian Armstrong, are listed as participants.

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