The prices of top cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and XRP showed little to no movement over the past 24 hours, surprising many in the market. This pause in price action came immediately after the release of White House report on digital assets.
On paper, the report should have been a bullish catalyst. Titled the White House Crypto Report, it was released by the President’s Working Group on Digital Assets and featured strong pro-crypto messaging. A post from the White House even declared, “Together we will make the U.S. the crypto capital of the world,” outlining a bold vision for embracing blockchain technology.
Government officials, including Treasury Secretary Scott Besant, along with policy representatives from major crypto players like Coinbase, Ripple, Chainlink, Anchorage, and KrakenFX, were present at the event. Industry leaders from associations like the Blockchain Association, Digital Chamber, and Crypto Council also attended. Ripple’s Chief Legal Officer Stuart Alderoty called the report “comprehensive, helpful, and direct.”
According to Alderoty and other insiders, the 160-page document lays out recommendations for establishing clear market rules, improving consumer protections, and boosting national security. It also encourages regulatory bodies like the SEC to take immediate action on classifying and handling digital assets.
The report is seen by many as the most pro-crypto move yet from any U.S. administration. Legal experts have pointed out that it covers everything from defining asset types to recommending policies for decentralized finance (DeFi), and even outlines how Congress should address money transmitter rules.
Despite the positive tone and extensive policy recommendations, markets remained cautious. Bitcoin continues to trade just above $118,400, while Ethereum holds around $3,860. XRP, too, has remained flat, with prices consolidating after recent gains. Other top 10 cryptocurrencies, including BNB, Solana, Cardano, and Dogecoin, also showed minor declines or no significant changes.
There was an expectation of more immediate market rally, particularly after talk of the U.S. potentially using existing seized Bitcoin reserves or buying more through federal channels. Although Representative Bo Hines hinted at future accumulation, no clear announcement was made regarding official government purchases of Bitcoin.
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