The crypto market is bracing for volatility as President Trump’s White House crypto summit approaches, with industry leaders and government officials set to discuss the potential integration of Bitcoin and digital assets into the U.S. economy.
According to Will Reeves, CEO of Fold, the uncertainty surrounding the summit’s outcomes could trigger strong market swings.
“There is a lot on the line, which means that markets have high expectations,” Reeves said during an appearance on TheStreet Roundtable with host Scott Melker. “If we miss expectations tomorrow, we may see bumps. If we come out with expectations hit, we may see this soar.”
The meeting, led by Trump’s crypto czar David Sacks, has sparked excitement among Bitcoin supporters but has also created division within the broader crypto space.
On Sunday, Trump noted the idea of a ‘crypto strategic reserve’, including XRP, Solana, and Cardano alongside Bitcoin and Ethereum.
Meanwhile, Commerce Secretary Howard Lutnick later suggested that Bitcoin would be the primary asset.
Reeves noted that no matter the immediate outcome, the fact that these discussions are taking place at the highest levels of government is a major milestone for crypto.
“Ultimately, the very fact we’re having this discussion means that Bitcoin and digital assets are here to stay,” he said. “They will increasingly find their way into every boardroom, every local government, and every home.”
The White House crypto summit, hosted by President Donald Trump and chaired by David Sacks, will feature top industry figures , including Coinbase CEO Brian Armstrong, MicroStrategy’s Michael Saylor, Kraken CEO Arjun Sethi, Gemini’s Winklevoss twins, and Chainlink’s Sergey Nazarov. Other attendees include Crypto.com’s Kris Marszalek, Robinhood’s Vlad Tenev, and Multicoin Capital’s Kyle Samani.
Uncertainty driving market swings
With the crypto industry closely watching the summit, investors are preparing for heightened volatility in the wake of any policy signals from Washington. Bitcoin has already experienced sharp price movements in recent weeks, fueled by speculation over Trump’s stance on digital assets and broader macroeconomic factors.
According to Reeves, markets are reacting to more than just one-time events like the summit. Instead, he sees a fundamental shift in how governments and institutions view Bitcoin, which could lead to major price swings.
“We are at a totally different platform, much larger than we ever have been before,” he explained. “Markets can get emotional, so no matter what happens tomorrow, we’re going to see some swings.”
Fold CEO Will Reeves noted the dramatic rise of Sacks in the crypto space, noting that the entrepreneur-turned-policy-maker was instrumental in Fold’s early funding round before taking on a leadership role in the Trump administration’s crypto strategy.
“You can't get much different. David Sacks led our Series A in 2019. We are now seeing him leading crypto policy at the highest levels,” Reeves said.
Bitcoin was trading around $90,000 at the time of writing.
