Crypto Market Slips Despite Trump’s Reaffirmed Support at DAS 2025

The cryptocurrency market fell on Thursday following a brief rebound on Wednesday, as President Donald Trump addressed the Digital Asset Summit (DAS) 2025 in New York.

Bitcoin (BTC) remained flat over the past 24 hours, trading around $84,000, while Ethereum (ETH) dropped 3% to $1,968. XRP declined 2.5% to $2.42, retreating from a 13% surge on Wednesday following positive news about its SEC lawsuit. Meanwhile, Solana (SOL) slipped 1.7% to $127.

The total cryptocurrency market cap declined by 3.2% over the past 24 hours to $2.85 trillion, according to CoinGecko. In the same period, 104,819 traders were liquidated, with total liquidations reaching $335 million. The largest single liquidation order, valued at $12 million, occurred on Binance, according to CoinGlass.

Market analysts attribute the downturn to a combination of profit-taking after Wednesday’s rally, uncertainty surrounding Trump’s regulatory stance at DAS, and the Federal Reserve’s decision to keep interest rates unchanged.

In a virtual address to DAS, Trump pledged that his administration would make the U.S. the undisputed global leader in Bitcoin and the broader crypto industry. He also made a series of promises aimed at strengthening the country’s position in digital assets.

Despite his supportive stance, the market reacted negatively, with prices declining due to a lack of concrete policy commitments, leading to cautious trading, experts said.

However, experts view the downturn as temporary, citing strong market momentum and increasing institutional adoption.

“Bitcoin's resilience in past cycles supports optimism, with technical analysis suggesting potential upside targets of $150,000+ for BTC and $4,000 for ETH by year-end,” said Anthony Anzalone, CEO and Founder of XION. “From a macro perspective, this pullback could be an attractive entry point for investors with a long-term outlook and risk tolerance.”

Brian Mahoney, co-founder of Mezo, echoed this view, noting that the crypto market cap is undergoing a minor correction as it shifts from narrative-driven growth to fundamentals-driven growth.

“The next leg of the cycle will be driven by product market fit use cases and macro tailwinds like TradFi integrations and the US opening up to embrace becoming the global crypto capital,” he said.