Donald Trump’s crypto summit could see Bitcoin’s price surge to $100,000.

That’s according to Ryan Lee, chief analyst at Bitget Research.

He argued that if the White House’s meet-up delivers on the hope of clear regulatory signals, then that will prove a boon for Bitcoin and other cryptocurrencies.

“A successful summit could see Bitcoin reclaim $100,000 and crypto assets like ETH, XRP, and Solana soar, cementing US leadership in global crypto markets,” Lee said.

However, he cautioned that “a lack of actionable steps might disappoint investors, underscoring the high stakes of this event.”

Lee’s comments come mere hours before the highly anticipated event and against a backdrop of markets in turmoil.

Traders have placed bullish bets that Bitcoin’s price will hit $120,000 by the end of March, and analysts like Maelstrom’s Arthur Hayes say the price could jump above $200,000 by the end of 2025.

Bitcoin’s price dropped

Bitcoin sank on Friday as traders digested the details of Trump’s executive order to establish a national crypto stockpile, which fell short of expectations.

Trump’s order establishes a strategic Bitcoin reserve and digital asset stockpile, but with no immediate purchases — only seized crypto.

This dashed investor hopes for a multibillion-dollar buying spree and, combined with uncertainties related to Trump’s foreign policies, triggered a sell-off that sent Bitcoin tumbling.

Bitcoin dropped as low as $84,800 before it recovered to $89,000 in the hours leading up to the crypto summit.

Despite the flat price action, the shift in US policy is noteworthy.

“We went from no spot Bitcoin ETF to strategic Bitcoin reserve in just over a year,” said ETFStore President Nate Geraci.

When Trump first proposed the reserve in Nashville last year, traders speculated that the US would embark on a multibillion-dollar buying spree, fuelling a months-long rally.

While some see the reserve as a step toward legitimising Bitcoin as a strategic asset, others criticised the government’s involvement, arguing it risks turning into a de-facto, state-run crypto hedge fund.

Crypto summit

Beyond Bitcoin, the executive order also outlined a broader digital asset stockpile.

The executive order didn’t name any other digital assets by name, but Trump indicated earlier this week that he’d like to include Ethereum, Solana, Cardano, and XRP in it.

These tokens all fell sharply after the government confirmed it wouldn’t be buying them any time soon.

“So the government made all these L1 founders come to DC to kiss the ring, and the night before published the news that they’re not actually buying their bags after all,” tweeted Nic Carter, co-founder and partner at Castle Island Ventures.

Ethereum fell 4.4%, Solana lost 3.2%, Cardano slid 7.9%, and XRP dropped 1.4% as traders unwound bets on a US-backed buying spree.

However, they have mostly recovered their losses and are now trading flat, just as those closest to the projects gather in Washington, looking for answers.

Crypto market movers

• Bitcoin has lost 1.7% over the past 24 hours and is trading at $88,920.
• Ethereum is down 4.1% in the same period to $2,180.

What we’re reading

Kyle Baird is DL News’ Weekend Editor. Got a tip? Email at kbaird@dlnews.com.