JPMorgan warns that bitcoin and cryptocurrencies are likely to remain under pressure in the near term due to skepticism about a strategic crypto reserve and broader market sell-offs.

The article discusses the rebound of Bitcoin following President Trump's exemption of certain tariffs, along with updates on a Senate resolution related to IRS rules for DeFi brokers.

President Trump announced the creation of a national crypto reserve involving multiple tokens, including Bitcoin and Ethereum, drawing both support and criticism over its implications for the crypto industry.

President Donald Trump announced a U.S. strategic crypto reserve that will include Bitcoin, Ethereum, XRP, Solana, and Cardano, aiming to make the U.S. the 'Crypto Capital of the World'. The announcement caused a rally in cryptocurrency prices.

Bitcoin is facing a significant downturn with a projected 19% decline in February, the worst month it has experienced since June 2022, amid macroeconomic challenges. Investors remain cautious as regulatory optimism fades.