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US President Donald Trump may have provided Bitcoin its next bullish narrative.
Trump’s media company, Trump Media & Technology Group (DJT), has applied for a trademark for a Bitcoin exchange-traded fund, called Truth.Fi Bitcoin Plus ETF.
Considering Trump’s popularity, especially among American conservatives, his ETF could drive significant capital into Bitcoin.
As such, BTC’s resilience has impressed experts, especially considering broader market uncertainty. There is a growing consensus the largest crypto asset is nearing a major upside move, suggesting it could be time to go long on it.
Meme coins like Dogecoin and Solaxy are also in high demand.
Why Donald Trump’s ETF Is Extremely Bullish For Bitcoin?
Donald Trump’s ETF announcement did not result in any major move for Bitcoin. The tepid price action appears largely due to the misconception that the Truth.Fi Bitcoin Plus ETF wouldn’t attract any considerable amount of capital.
After all, the current Bitcoin ETF space is dominated by two major players, BlackRock and Fidelity. The remaining ETFs, including Grayscale, see sparse inflows.
However, this thought process excludes Donald Trump’s popularity, especially among American conservatives and the MAGA population. Trump’s NFT collection, meme coin, golden sneakers and watches have all been hits, despite largely being without any value.
It wouldn’t be a surprise if the Truth.Fi Bitcoin Plus ETF sees considerable inflows and attracts a signification portion of the sidelined mainstream population
Moreover, the move highlights the seriousness of Donald Trump’s support for Bitcoin and the crypto market, considering the ETF would mean he has real stakes in the industry’s success. This bodes well for the possibility of a Strategic Bitcoin Reserve creation.
Trump’s crypto czar, David Sacks, also hinted that Trump is committed to the creation of a Bitcoin stockpile.
Treasury Secretary Scott Bessent also stated, “Everything is on the table with Bitcoin”, potentially a hint towards the US government investing in BTC through the newly-created Sovereign Wealth Fund.
The Strategic Bitcoin Reserve and SWF investment into BTC are equally bullish for the crypto market and could send the Bitcoin price to $200,000.
As such, smart money investors are impressed with Bitcoin’s resilience. The largest cryptocurrency is trading within an ascending wedge, which signals that the BTC price could hit $120k in the coming weeks.
Are Meme Coins Also Making A Comeback?
The meme coin sector has had a poor start to the year. Its market capitalization, which was as high as $127 billion last year, is now down to $71 billion.
However, experts believe that the bottom could be in for meme coins.
For instance, prominent crypto analysts believe the Dogecoin price is nearing a breakout and could hit a new all-time high in 2025 Q1. Similarly, the Sui meme coin HIPPO is also set for a bullish reversal.
A new meme coin Solaxy (SOLX) is also in high demand, having already raised nearly $20 million in its presale.
Solaxy is a multi-chain meme coin, allowing both Ethereum and Solana buyers to ape in early, which explains its strong demand and high-upside potential. Most importantly, it is a high-utility meme coin which could play a key role in the Solana ecosystem.
While Solana brands itself as a highly scalable blockchain, it struggles with network congestion and transaction failure during periods of heavy traffic. With Solaxy’s cutting-edge roll-up architecture, it could realize its full potential.
Layer-2 coins are typically seen as beta bets on their respective Layer-1s. Considering experts believe the Solana price will likely hit $500 in 2025, the strong demand for SOLX isn’t a surprise.
Considering its low market cap, many are even calling it the next 100x meme coin.
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