The highly anticipated White House Crypto Summit fell flat, failing to generate excitement among retail investors who were expecting a market rally that never materialized. Despite U.S. President Donald Trump’s crypto-related initiatives, including the establishment of a Strategic Bitcoin Reserve, investor sentiment remained muted, with analysts noting a lack of enthusiasm across trading metrics.
Lackluster Market Response
According to Matrixport analysts, retail investors showed little interest in the summit, as reflected in perpetual futures funding rates, which stayed low in the single digits. In a March 10 post on X, Matrixport highlighted a stark contrast between current sentiment and the high funding rates observed in April and December 2024.
“Even the momentum surrounding Trump’s inauguration was relatively muted—a clear signal that Bitcoin’s next leg higher will require a more significant catalyst,” said independent analyst Markus Thielen.
Bybit’s analytics report, conducted with Block Scholes, also pointed out that while spot prices of certain cryptocurrencies briefly climbed following Trump’s announcement of the Strategic Bitcoin Reserve, funding rates remained stable, indicating that the market “needs a stronger boost than Trump’s crypto strategic reserve.”
The “Buy the Rumor, Sell the News” Effect
The crypto market’s reaction to the summit may have followed the familiar “buy the rumor, sell the news” pattern, where speculators accumulate assets in anticipation of a major event and then sell off once it occurs. Crypto.news previously warned that Bitcoin and other cryptocurrencies could decline after the summit, as similar scenarios had played out in the past.
For example, when Trump won the 2024 U.S. presidential election, cryptocurrencies initially surged, only to lose their gains following his inauguration in January. A similar pattern occurred with Ethereum in 2023 when its price rallied ahead of spot ETF approvals in September but subsequently declined.
Market Awaits a Stronger Catalyst
The subdued reaction to the White House Crypto Summit suggests that traders and investors are looking for more substantial developments to drive the next market rally. While regulatory progress and institutional adoption remain key long-term factors, short-term momentum appears to require a more powerful catalyst than government announcements alone.
With market sentiment still uncertain, investors are closely watching for the next major event that could reignite bullish momentum in the crypto space.
