TL;DR

• Cardano (ADA) dropped to $0.82 following Trump’s executive order, with some attributing the dip to a “sell the news” reaction.

• Cardano’s founder, Charles Hoskinson, was not invited to Trump’s March 7 White House crypto summit, raising concerns about his role in future regulatory discussions.

ADA Heads South

Cardano’s native token took center stage on March 3, with its price exploding by 60% daily and reaching over $1.10. The substantial resurgence resulted from Donald Trump’s statement that his administration will move forward with establishing a strategic crypto reserve that will include ADA (among other leading cryptocurrencies).

Several hours ago, the US president signed the executive order on the initiative. However, ADA was not included in the order as it was solely focused on bitcoin.

Some industry participants previously warned that Trump’s eventual green light may result in a “sell the news” scenario.

ADA plunged to as low as $0.82 before rebounding to the current $0.88 (per CoinGecko’s data), which represents a 6% decline on a 24-hour scale. The asset’s market capitalization is around $31 billion, meaning it remains the eighth-biggest in the sector, surpassing Dogecoin (DOGE).

Another factor that may have triggered downward pressure on ADA’s valuation is the upcoming crypto summit. The gathering will be held at the White House later today (March 7) and will supposedly be joined by multiple crypto leaders, including Ripple’s CEO Brad Garlinghouse, Coinbase’s boss Brian Armstrong, Strategy’s Executive Chairman Michael Saylor, and more.

Cardano’s founder, Charles Hoskinson, was also rumored to be among the participants. Earlier this week, though, he disclosed that he hadn’t received an invitation for the event. 

Several months ago, Hoskinson revealed his intentions to work alongside Trump’s administration to create a comprehensive and potentially more favorable regulatory environment for the cryptocurrency sector. However, his exclusion from the guest list may hamper that ambition. 

Waiting for These Bullish Factors

Despite ADA’s retreat in the past hours, some elements suggest that the asset could rise to new peaks soon.

One example is the potential support coming from Gemini. Tyler Winklevoss (co-founder of the US-based crypto exchange) recently hinted that ADA might be listed on the platform. Such a development would increase the token’s liquidity and accessibility and may spark upward pressure on the price. 

Another factor is the possible launch of a spot ADA exchange-traded fund (ETF) in America. The world’s largest digital asset manager, Grayscale, filed with the US SEC to introduce that type of product in mid-February, and the Commission acknowledged the application a few weeks later.

This investment vehicle would allow investors to gain exposure to the asset without dealing with exchanges or worrying about self-custody. According to Polymarket, the approval odds before the end of 2025 stand at roughly 70%.

TL;DR

• Bitcoin (BTC) tanked to $85,000 after Trump signed the executive order for the Bitcoin Reserve, but later recovered above $88,000. Analysts eye $150,000 if the price reclaims $97,000.

• Market observers predict PI’s rise to $5, $40, or even higher. Meanwhile, Binance’s community vote showed strong support for the token’s potential listing, but the exchange remains silent on the matter.

• Ripple (XRP) surged 25% in a week to $2.50, with some industry participants projecting an ambitious rally to $27-$222, despite market cap limitations.

What Could Be Next for BTC?

The primary cryptocurrency has been on a roller coaster in the past week, with its price fluctuating between $78,000 and $95,000. On March 6, Bitcoin (BTC) stabilized at over $90,000 before experiencing more turbulence. 

It dipped to around $85,000 after US President Donald Trump signed an executive order to establish a strategic Bitcoin Reserve. Analysts have previously warned about a potential “sell the news” scenario, which could be one of the factors contributing to the decline. BTC reclaimed some lost ground in the following hours, currently trading at approximately $88,200 (per CoinGecko’s data).

The enhanced volatility recently has not stopped numerous industry participants from making optimistic predictions about the leading digital asset. The popular X user Ali Martinez recently set a target of $150,000 if BTC reclaims the $97,000 mark. 

CRYPTOWZRD chipped in, too, envisioning that a pump above $91,500 could ignite a rally to $100,000 or higher. 

PI Price Predictions

The native token of Pi Network has also been subject to bullish forecasts lately. The X user Coinvo maintained that the asset “is bouncing perfectly off the point of control.” The investor assumed that the level stands at $1.58. As of the moment of writing these lines, PI is worth around $1.78, and the last time it dipped below the depicted mark was on March 2. 

Other market observers giving their two cents include MOON JEFF and Pi Blockchain. The former believes a rise to $5 is just a matter of time, while the latter predicted that the next wave could send the valuation to $4 or even $40.

Recall that PI saw the light of day two weeks ago and was initially supported by leading exchanges such as OKX, Bitget, MEXC, and others. Binance held a community vote to determine whether to list the asset on its platform. Over 86% of the voters clicked the “yes” option, but the company remains silent on the matter. 

XRP Price Outlook

Ripple’s native token is among the top-performing well-known cryptocurrencies, with its price soaring by nearly 25% in the past week. It currently trades at roughly $2.50, and many industry participants think the uptrend has yet to reach new dimensions.

Earlier this week, the X user JAVON MARKS claimed that the pattern XRP broke out of in November 2024 mirrors that of 2017. As such, they expect a bull run “greater than many think or even imagine to possible.”

EGRAG CRYPTO also chipped in, envisioning a potential explosion to the $27-$222 range. Such high prices would require XRP’s market capitalization to reach multi-trillion levels, making the forecast implausible (at least as of now). 

Around 29,000 Bitcoin options contracts will expire on Friday, March. 7, and they have a notional value of roughly $2.5 billion.

This week’s event is much smaller than last week’s end-of-month expiry, but a mammoth end-of-quarter contract expiry is due on March 28.

The impact on spot markets is likely to be minimal as all eyes are on the White House crypto summit, also taking place today.

Bitcoin Options Expiry

This week’s tranche of Bitcoin options contracts has a put/call ratio of 0.67, meaning that there are slightly more call (long) contracts expiring than puts (shorts).

Moreover, open interest (OI), or the value or number of BTC options contracts yet to expire, remains high at the $120,000 strike price, which is $1.4 billion, according to Deribit.

There is also over $1 billion in OI at the $100,000 and $110,000 strike prices. Bearish sentiment is also seeping back as $750,000 in OI currently sits at the $80,000 and $70,000 strike prices.

Crypto derivatives provider Greeks Live said the group was still “predominantly bearish,” adding that traders were “anticipating further downside while experiencing frustration with extreme chop and volatility.”

It added that most traders were watching the $87k to $89k range as key resistance, with $82k noted as a recent bottom, “though there is significant disagreement on whether a sustainable bottom has been found.”

“Market experiencing extreme price swings with Bitcoin moving $6k in a day, creating what traders describe as ‘scam both ways’ price action.”

Around 223,000 Ethereum contracts are also expiring today, with a notional value of $482 million and a put/call ratio of 0.71. This brings Friday’s combined crypto options expiry notional value to around $3 billion.

“Trump tariff announcements (and subsequent reversals) are contributing to market confusion, with many traders sitting out due to unpredictable price action,” Greeks concluded.

Spot Market Tanks

Markets have been extremely volatile over the past 24 hours, with total capitalization dumping around $200 billion following Donald Trump’s executive order for a strategic Bitcoin Reserve.

Bitcoin tanked almost 6%, falling from above $90,000 to $85,000 in less than an hour before it bounced off to $88,000. The response came as White House crypto czar David Sacks said the reserve would be capitalized by BTC already seized by the US government.

Retail took this to mean the US would not be buying any more BTC for its SBR and dumped the asset. However, the small print states that the Treasury and Commerce secretaries have been directed by Trump to find “budget neutral” ways to acquire BTC.

Nevertheless, crypto markets remain in the red this Friday morning.