Hold onto your hats, folks, because the crypto rollercoaster just took another wild turn! After days of playing it cool, Bitcoin finally decided to break free from its shackles, soaring by a staggering $10,000 in just a few hours. But wait, the real stars of the show were some altcoins that rocketed by more than 50%, all thanks to a little name-drop from none other than President Trump himself.
Last week was rough for Bitcoin, with its value nose-diving from $96,000 to $78,000. The culprit? A heated trade spat instigated by Trump, coupled with inflation jitters and a sprinkle of other woes. But like a phoenix rising from the ashes, Bitcoin clawed its way back to $84,000 by Friday afternoon, and held steady between $84,000 and $86,000 as the weekend rolled in.
Then came the plot twist! In a move that sent shockwaves through the crypto universe, Trump announced plans for a US Crypto Reserve. The market went bananas, and Bitcoin wasn't the only one to feel the love. Trump’s shout-out to SOL, ADA, and XRP sent these altcoins flying higher than a kite on a windy day.
Bitcoin briefly touched $95,000 before settling at a still-impressive $92,000, boosting its market cap to a jaw-dropping $1.840 trillion. Meanwhile, ETH is riding high above $2,350, DOGE is sniffing around the $0.22 mark, and our star trio SOL, ADA, and XRP are basking in double-digit gains. LINK and AVAX also joined the party, rising among the top large-cap alts.
Not everyone was invited to this celebration, though. BNB and LTC were left sulking in the corner with slight losses, perhaps feeling a bit left out without a mention from Trump.
The crypto market cap has ballooned by an eye-popping $300 billion since Sunday's low, now soaring above $3.15 trillion. What a week, right? Keep your eyes peeled, because if we've learned anything, it's that the crypto world never stays quiet for long!
