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Daily Brief

Bitcoin Sells the News

gm Bankless Nation, even Trump signing an executive order establishing a Strategic Bitcoin Reserve wasn't enough to turn around negative price action.
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Mar 7, 20253 min read
Bitcoin Sells the News
Published on Mar 7, 2025
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NEED TO KNOW
Bitcoin Reserve Official
  1. ✍️ Trump Signs Order to Establish Bitcoin Reserve. Despite the major executive order, BTC price is still trading below $90,000.
  2. 🇷🇺 Russian Crypto Exchange Seized By U.S. Secret Service. The Garantex exchange had been linked to Russian banks under western sanctions.
  3. 🐟 Coinbase Acquihires Team at Iron Fish Blockchain. The Base L2 is expanding its team with talent from the privacy-centric blockchain project.
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Daily Market Snapshot: Bitcoin investors sold the news of a federal bitcoin reserve, with the asset dropping to $85K as soon as Trump's pen hit the paper. Crypto's market cap continues to see volatility after what was generally a stubbornly smooth February for the industry.
Prices as of 6pm ET 24hr 7d
Crypto $2.85T ↘ 3.4% ↗ 0.7%
BTC $86,546 ↘ 4.1% ↗ 2.7%
ETH $2,140 ↘ 3.1% ↘ 3.5%
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OPINION
The Good, Bad and Ugly of ETH Denver
Bankless Author: Nick Shaheen

It’s that time of year again—conference season is in full swing, and for one week, everyone committed to being IRL instead of online. As is tradition, prices tanked, lips cracked, builders built, hydration—both physical and financial—hit all-time lows, and side events once again outshined the main stage.

If you came looking for tangible crypto utility, you may have left empty-handed. If you came looking for this year’s forced meta, congratulations, you may have gotten more AI than you wanted. But it wasn’t all FUD and bad vibes!

Despite the annual cycle of FUD, there were glimmers of optimism. Ethereum unveiled long-overdue organizational shifts, institutions made their presence undeniable, and for the first time in years, real regulatory progress hinted at a future where token launches and fee switches don’t feel like forbidden magic.

But this is crypto, where debates rage, expectations misalign, and everyone obsesses over price action. Some people were bullish, some were bearish, but everyone left talking about Bitcoin’s nosedive from $95K to $78K while we were 5,280 feet above sea level.

Let's dig into the good, the bad, and the ugly of my experience at ETH Denver 2025 👇


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EARLY ACCESS
The Age of Hyper Acceleration

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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.