Bulls regain control

Bitcoin seems on track to get its $90K handle back amidst heavy trading volume and hints of maybe a quick end to, or even some relief from, world trade tensions.

Trump's tariffs have fully rattled the Dow, down 1,300 points over the past two trading days, while total crypto assets yesterday fell below $3 trillion.

As of Wednesday at 8:41 a.m. (EST), the total market capitalization for the more than 17,000 cryptocurrencies tracked by CoinGecko had reached $3.05T. That reflects roughly a 5% increase in the past 24 hours. Cardano's ADA, eighth-largest coin, rose more than 20%, and at one point earlier today hit $1, this after being $0.68 last week at this time. ADA is by far the biggest gainer among the Big Ten. Solana (No. 6) gained 8% as it honed in on a key $150 mark. Dogecoin (No. 9) is twenty cents again.

Meanwhile, on the outer fringes of the Top 100, Jito (JTO), 99th-largest token, surged nearly 30%. JTO is the governance token of the Jito staking protocol which underpins the Solana ecosystem. JTO reached $6 this past December at the height of the post-election rally. As of this morning, JTO was $2.60, per CoinGecko.

On Sunday, Bitcoin took off on "strategic reserve" rumblings, reaching nearly $95K. And then came Monday, and the confirmation that tariffs were a go, triggering a two-day sell-off. This in turn prompted a Trump administration official, Commerce Secretary Howard Lutnick, to float to Bloomberg the notion that maybe some kind of compromise with Mexico and Canada could be worked out. Lutnick was vague. Trump is expected to make an announcement regarding tariffs this afternoon.

Addressing his economic hammer-time tactics during a joint session of Congress last night, Trump said that his administration would be okay with "a little disturbance."

Stock futures were in the red as of 9 a.m. (EST). BTC was solidly green (+8%) as it reacquainted with $89,500K. BTC has been as low as $78,940 in recent days. Largely, though, the $80K line held.

CoinDesk reports on technical analysts who have spotted post-downtrend candles, indicating sellers unable to push prices past support beams (formed by buyers stepping in), signaling a potential bullish reversal. The largest crypto could be bound for $95K amidst what CoinDesk described as "bear exhaustion."

Digital market participants will be standing at attention this Friday when the Crypto-Friendly Commander-in-Chief gathers industry members for the White House Crypto Summit.

President Trump is widely expected to unveil the crypto reserve strategy during the event. But it's not clear what precisely is on the agenda. Definitely some well-known companies are sending top executives. These firms include Coinbase, Chainlink and Exodus. Bet on Bitcoin evangelist Michael Saylor being there.

Host Trump will be flanked by David Sacks, crypto and AI czar, and Bo Hines, executive director of the President's Working Group on Digital Assets.

Vlad Tenev, CEO of Robinhood, a seven-figure donor to the President's Inaugural Committee, has hinted he would attend, posting a screen grab from "National Treasure" on X, and captioning it "see you soon, DC."

Recently, the SEC closed a lengthy probe into Robinhood Crypto, part of an overall enforcement softening campaign. 

Several cases are still unresolved. Lawsuits against a trio of crypto companies — Ripple, Cumberland DRW and Pulsechain — remain ongoing; probes into another three firms — Unicoin, Crypto.com and Immutable — have not yet been closed.