encryption market volatility picks up, policies and hotspots work together

Market Overview: V-shaped rebound reappears, Bitcoin back to $87,000
The market experienced intense volatility today, with Bitcoin dropping to $81,000 at one point but quickly rebounding to $87,000. The performance of altcoins varied, with some tokens stabilizing and rebounding while others are still adjusting.
DeFi sector: AAVE rebounds to $200, ENA and DEXE lead the gains
In the decentralized finance (DeFi) track, AAVE rebounded to $200 under the market rebound, ENA and DEXE recorded a nearly 10% increase, showing that market sentiment is gradually warming up.
Meme & AI sectors are under pressure, with some tokens falling by more than 20%
Meme and AI tracks continue to be under pressure, with WIF and SPX falling by more than 10%, and ZEREBRO and SWARMS plummeting by over 20%. Market funds seem to be shifting towards more stable assets.
Solana ecosystem new progress: Sonic Layer 2 network mainnet launched
Solana ecosystem welcomes new development, layer-two network Sonic officially launched on the mainnet. Sonic aims to enhance the scalability and transaction efficiency of Solana, providing better infrastructure support for DeFi and NFT applications.
Three major key events are about to happen
Trump will deliver a speech at the joint session of Congress, which is expected to possibly involve economic policies and election-related content;
Ethereum testnet Sepolia welcomes Pectra upgrade, paving the way for mainnet upgrade;
ENA welcomes the unlocking of 2.07 billion tokens, and the market may face certain selling pressure.
The White House encryption currency summit is about to be held, and Trump may release heavy positive news
The White House crypto market summit is scheduled to take place on Saturday, March 8th at 2:30 am. It is rumored that Trump may announce the cancellation of capital gains tax on cryptocurrency sales at the summit. If this policy is implemented, it will greatly enhance the attractiveness of the United States to the crypto industry, and may even stimulate a new round of capital inflows.
View Analysis
The V-shaped trend reversal in this market shows that Bitcoin has strong support near $81,000, and the rebound also reflects a strong bullish sentiment in the market. However, the continued decline in the Meme and AI sectors indicates that the market is tilting towards more stable mainstream tracks, and there may still be fluctuations in the short term.
On the other hand, the tax incentives that Trump may bring could be a key variable affecting the market. If the US government takes a more friendly stance towards the encryption industry, it may attract institutional funds back and drive a new bull market. However, policy uncertainties still exist, and market sentiment may further adjust as the news lands.
In the coming days, whether Bitcoin can stabilize at $87,000, the market reaction after the ENA unlock, and the final outcome of the White House summit are all key points that investors need to pay attention to.