The post How Will Bitcoin Price React to Trump’s March 7 Crypto Summit and Nonfarm Payrolls? appeared on BitcoinEthereumNews.com.

Bitcoin (BTC) price surged to a three-day high of $92,000 on March 6, 2025, as crypto traders bought into the rally likely driven by the buzz around Friday’s White House Crypto Summit. Speculation is rife that President Donald Trump may announce zero capital gains tax on US coins. Meanwhile, the upcoming US non-farm payroll data is driving expectations of heightened BTC volatility.  Bitcoin price today trades at $91,247 after a 1.4% rise in 24 hours. BTC has fluctuated between a daily low of $87,000 and a daily high of $92,000.  Bitcoin Price Gains Ahead of Crypto Summit  Bitcoin price is not showing signs of retracing after clearing the psychological level of $92,000. Traders are likely holding as they wait to see the impact that this summit will have on BTC prices.  Speculation is mounting that President Trump will announce tax relief for US Coins. This tax relief could apply to BTC as it has been included in plans for a crypto reserve. Trump’s crypto push could drive institutional demand and fuel a rally.  Additionally, Commerce Secretary Howard Lutnik has hinted at a Bitcoin-only reserve being announced during the summit. In an interview with The Pavlovic, Lutnik stated,  “A Bitcoin strategic reserve is something the President is interested in. He spoke about it all during the campaign trail, and I think you’re going to see it executed on Friday.” Michael Saylor, who will also attend the summit has stated that the US government will buy 1M BTC over a period of four years, which is also fuelling a bullish Bitcoin price prediction.  Upcoming US Nonfarm Payroll Data May Spike Bitcoin Volatility  Besides the summit, Bitcoin is gaining due to macroeconomic factors. The US non-farm payrolls (NFP) data for February will be released on Friday, which will affect Bitcoin price based on…

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Filed under: News - @ March 6, 2025 9:24 pm