The cryptocurrency euphoria over the weekend was short-lived, as prices remained under pressure after industry watchers voiced skepticism of President Donald Trump's plans to build a strategic crypto reserve.

The prospect of a federal strategic reserve is a major step in President Trump's vision to establish the U.S. as the crypto capital of the world and could be a game changer for the industry.

President Donald Trump is throwing his support behind the creation of a federal reserve of cryptocurrency assets — he initially highlighted XRP, Solana,