Bitcoin Recovers Amid Trump’s Pro-Crypto Remarks: Ethereum, Dogecoin, XRP Also Rise: Analyst Says BTC Risks Falling To $72,000 If It Fails To Do This
Leading cryptocurrencies bounced back on Wednesday as President Donald Trump pledged support to the industry.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:00 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +2.84% | $103,435.58 |
| Ethereum (CRYPTO: ETH) |
+5.06% | $3,407.30 |
| XRP (CRYPTO: XRP) | +8.66% | $2.34 |
| Solana (CRYPTO: SOL) | +5.87% | $160.85 |
| Dogecoin (CRYPTO: DOGE) | +4.64% | $0.1662 |
Market Sentiment Sees Slight Improvement
Bitcoin saw a relief bounce, reaching an intraday high of $104,534.70. The apex cryptocurrency’s spike spurred a broader rally, with Ethereum reclaiming $3,400.
The rally comes as Trump reiterated his promise to make the U.S. a “Bitcoin Superpower” and claimed that he ended the previous administration’s “War On Crypto.”
Overall sentiment stayed subdued, with BTC and ETH still 18% and 31%, respectively, below their all-time highs set earlier this year.
Over $313 million was liquidated from the cryptocurrency market in the last 24 hours, according to Coinglass, with short position traders bearing the brunt of the losses.
Bitcoin’s open interest rose 1.59% in the last 24 hours, suggesting …
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