Trump Calls for Crypto Act: Bitcoin and Ether Surge
The US President's call has energized the crypto market.
1Crypto Market Moves on Trump's Call
US President Donald Trump urged Congress to pass a bill expected to boost the crypto sector. This call led to a rapid rise in cryptocurrencies like Bitcoin and Ether. Trump also hinted at regulating Hyperliquid, a decentralized exchange popular for perpetual futures trading. Hyperliquid has gained significant traction among traders.
2Hyperliquid Token Rises Sharply
Following Trump's remarks, the Hyperliquid token gained about 20% in the last 24 hours. According to CoinGecko data, this surge increased the platform's popularity among traders. Hyperliquid is a leader in perpetual futures trading. The token's performance has created optimism in the broader crypto market.
3Bitcoin ETF Trading Volume Hits Record
A decline in US Treasury bond yields boosted trading volume in the iShares Bitcoin Trust ETF (IBIT). IBIT's trading volume exceeded 4.5 times its 30-day average. This development increased Bitcoin's appeal among high-risk assets. Charlie Hayward, APAC Regional Director at RootstockCollective, noted that these events make Bitcoin more attractive.
4Bitcoin Volatility on the Rise
According to Volmex Labs' BVIV Index, Bitcoin volatility rose above 43.5%. This marks a significant increase from the year-to-date low of 35.5%. The rise in volatility has energized the crypto market. David Morrison, Senior Market Analyst at Trade Nation, stated that Bitcoin had been stuck in a narrow range for the past six weeks, frustrating traders.
5US Treasury Increases Bond Purchases
The US Treasury significantly increased purchases of 20 and 30-year bonds. This decision lowered bond yields and boosted interest in high-risk assets. Max Stuedlein, Head of Partnerships at Sygnum APAC, noted that Bitcoin's movement aligns with macro and policy catalysts. This alignment supports Bitcoin's long-term upward trend.
6Standard Chartered Predicts Bitcoin Rally
Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered, stated that the US Treasury's decision would support Bitcoin. Kendrick predicted Bitcoin could reach $100,000 by the end of 2026. This forecast has created optimism in the crypto market. Kendrick emphasized that Bitcoin responds positively to such macro developments.
7Ether Hits Three-Month High
Ether rose about 19% in the past seven days to $2,251. Thomas Lee, Head of Research at Fundstrat, noted that this surge triggered the second-largest short liquidation in history. Ether's rise to a three-month high has created significant momentum in the crypto market. This development presents new opportunities for investors.
8Crypto Market Momentum Continues
Trump's call and the US Treasury's decisions have created significant momentum in the crypto market. Major cryptocurrencies like Bitcoin and Ether have surged rapidly, opening new opportunities for investors. These developments send promising signals for the future of the crypto sector. Market analysts predict similar movements could continue in the coming period.