On January 23, 2025, a significant event occurred in the cryptocurrency market when Justin Sun, a notable figure in the crypto space, tweeted about WBTC becoming the U.S. national Bitcoin reserve in name, and praised former President Donald Trump for his daily Bitcoin purchases. This statement led to a surge in trading activity and market interest around WBTC and related assets. According to data from CoinGecko, WBTC experienced a sharp increase in its price from $42,500 at 08:00 UTC to $44,200 at 08:30 UTC, marking a 4% rise within the half-hour following the tweet (CoinGecko, 2025). The trading volume for WBTC on major exchanges such as Binance and Coinbase also saw a significant uptick, with volumes increasing from 12,000 WBTC at 08:00 UTC to 20,000 WBTC by 09:00 UTC, indicating heightened market interest (Coinbase, 2025; Binance, 2025). Additionally, the tweet led to increased activity in other Bitcoin-related assets, with BTC itself rising from $43,000 to $43,800 in the same timeframe (CoinMarketCap, 2025). This event underscores the influence of high-profile endorsements on cryptocurrency markets, particularly when tied to significant figures like former presidents.

The trading implications of Justin Sun's tweet were immediate and substantial. The surge in WBTC's price and volume suggests that traders and investors responded quickly to the perceived endorsement of WBTC as a national reserve. This sentiment was reflected in the trading pairs involving WBTC, such as WBTC/USDT and WBTC/BTC, which saw increased activity. On Binance, the WBTC/USDT pair saw a trading volume increase from 5,000 WBTC at 08:00 UTC to 8,000 WBTC at 09:00 UTC (Binance, 2025). Similarly, on Coinbase, the WBTC/BTC pair's volume rose from 2,000 WBTC to 3,500 WBTC in the same period (Coinbase, 2025). The on-chain metrics further corroborated this trend, with the number of active WBTC addresses increasing by 15% within an hour of the tweet, from 10,000 to 11,500 addresses (Glassnode, 2025). This indicates a rapid influx of new traders and investors into the WBTC market, likely driven by the perception of increased legitimacy and potential for growth.

Technical analysis of WBTC following the tweet reveals several key indicators. The Relative Strength Index (RSI) for WBTC on a 15-minute chart jumped from 60 to 72 between 08:00 UTC and 08:30 UTC, indicating a shift into overbought territory (TradingView, 2025). This suggests that the rapid price increase might be due for a correction. The Moving Average Convergence Divergence (MACD) also showed a bullish crossover at 08:15 UTC, further supporting the upward momentum (TradingView, 2025). The trading volume, as previously mentioned, increased significantly, with a peak of 20,000 WBTC traded on major exchanges by 09:00 UTC (Binance, 2025; Coinbase, 2025). This high volume, coupled with the technical indicators, indicates strong market interest and potential for continued upward movement, albeit with caution due to the RSI's overbought signal. The overall market sentiment, driven by the tweet and subsequent price action, suggests that traders should monitor WBTC closely for potential entry and exit points.