Bitcoin Blasts Past $92K as Markets Brace for White House Crypto Summit

Bitcoin just broke through $92,000, flexing its dominance while traders gear up for the first-ever White House Crypto Summit on March 7. The hype sent DOGE pumping 10%, with ADA, SOL, and ETH riding the wave, adding 6% each. Meanwhile, XRP and BNB barely moved, dragging behind with a 2.5% gain, underperforming the broader CoinDesk 20 index, which ticked up 3.5%.

This comes after a rollercoaster week where Trump’s strategic crypto reserve announcement on Sunday had markets spiking 12%, only to see the euphoria fade by Tuesday as investors sat tight, waiting for real policy moves.

The White House Crypto Summit: Bull Run or Buzzkill?

The big question—will Saturday’s summit fuel the next breakout, or is this a classic bull trap? According to QCP Capital, the event is a “high-stakes asymmetric bet”, meaning the impact could be massive either way:

“Will it serve as the unexpected catalyst that sends prices soaring, or will it expose crypto’s fragility and trigger a deeper sell-off?”

Adding to the tension, market watchers point out that corporate bond spreads are widening—a classic risk-off signal.

Bitcoin Flexes, Ethereum Fumbles

According to FxPro analyst Alex Kuptsikevich, Bitcoin now controls over 60% of the crypto market, signaling that investors are playing it safe. Meanwhile, Ethereum’s market share just hit a five-year low at 9%—bad news for altcoin bulls.

“Bitcoin keeps bouncing off the 200-day moving average. If it can reclaim $97K, that’s when the real bullish momentum kicks in,” Kuptsikevich told CoinDesk.

What’s Next? Moon or Doom?

With Bitcoin hovering above $90K, all eyes are on the White House Crypto Summit. If the event delivers bullish regulation or institutional support, BTC could rip past $97K in no time. But if it’s all just political posturing? Expect some brutal sell-offs as reality sets in.