America’s newly appointed AI and crypto Czar David Sacks will be hosting the first press conference on Tuesday, February 4, discussing America’s leadership role in the digital assets industry moving ahead. The development was enough to put the crypto market on a strong recovery path after a brutal crash on Monday.

Bitcoin price is up 7%, reclaiming $100K levels. Altcoins, including Ethereum (ETH), XRP, Dogecoin (DOGE), and Cardano (ADA) have bounced back by 11-22%. Additionally, reports of Trump’s trade wars easing up have provided additional fuel to the market.

Crypto Market Recovery – BTC, ETH, XRP, ADA See Strong Bounce Back

Bitcoin Leads the Crypto Market Recovery

Bitcoin is leading the crypto market recovery today, gaining over 7% and surging all the way to $102,000. BTC has been subject to massive volatility over the fears of the Trump trade war swinging all the way to $90,000 and recovering back above $100K, all within less than 48 hours.

The recent recovery in Bitcoin comes as crypto czar David Sacks will hold the first press conference talking about America’s digital asset leadership moving ahead. This has led to strong buying pressure, particularly from US investors.

According to data from CryptoQuant, the Coinbase Premium Gap—a metric reflecting the price difference between Bitcoin on Coinbase and other exchanges—has surged to its highest level in 2025.

Source: CryptoQuant

This spike indicates increased demand for Bitcoin among U.S.-based investors, a trend that could potentially fuel further price momentum for BTC.

Altcoins Recover A Day After Brutal Correction

Top altcoins are recovering strongly, with Ethereum (ETH) leading with more than 12% gains in the last 24 hours, surging past $2,800. Ripple’s XRP, Dogecoin (DOGE), and Cardano (ADA) have gained more than 20% reclaiming much of the lost ground over the past week.

As Donald Trump prepares to create a new Sovereign Wealth Fund, crypto market analysts have turned optimistic about the potential inclusion of Bitcoin and Ethereum. Earlier today, Eric Trump wrote in an X post: “In my opinion, it’s a great time to add ETH,” raising further speculation.

Furthermore, the XRP community has been pushing for having the Ripple token into America’s crypto reserves. Ripple CEO Brad Garlinghouse said that it would be prudent to have a basket of digital assets as crypto reserves instead of just Bitcoin.

Citing historical patterns from 2017 and 2021, market analysts are now hopeful that the altcoin season could kickstart anytime, triggering a mega bull run.

Source: Crypto Rover

What to Expect from Crypto Czar David Sacks’ Conference?

Donald Trump’s AI and crypto czar David Sacks will hold the first press conference on Tuesday, regarding America’s leadership in digital assets moving ahead. He will be accompanied by other representatives from the US Congress.

According to the announcement, Sacks will outline the White House’s strategic approach to digital assets and the overall crypto market. This strategy is expected to address key areas such as regulatory policies, innovation incentives, and national security concerns.

The event underscores the administration’s commitment to collaborating with lawmakers to shape policies for the cryptocurrency and blockchain industries. It also signals a proactive stance on fostering growth and innovation in the sector.

The post Crypto Market Recovers Before Crypto Czar David Sacks’ Digital Asset Leadership Conference appeared first on CoinGape.

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Filed under: News - @ February 4, 2025 6:15 am