The cryptocurrency market witnesses a substantial surge amid news of the US strategic crypto reserve establishment.
Bitcoin Climbs to $93K
Today, Bitcoin renewed its price recovery, trading at $92,369, an increase of 7.45% over the prior day. Bitcoin's restored strength came after US President Donald Trump issued an order to establish a strategic cryptocurrency reserve, massively boosting traders' and investors' optimism. This announcement suggests official recognition of cryptocurrencies within the US monetary system.
Altcoin Market Rebound
Most tokens in the altcoin market also surged following Trump's announcement of the new US strategic reserve. After the announcement, Ether surged 13%, reaching $2,368. Others like Cardano, XRP, and Solana recorded significant rises of 47.76%, 17.48%, and 11.93%, respectively, over the past 24 hours.
Top News and Top Gainers
A key highlight was the announcement that the new US strategic crypto reserve will include five cryptocurrencies: Bitcoin, Ethereum, XRP, Solana, and Cardano, signaling a shift from the initial plan of a Bitcoin-only reserve. Market analysts expect this move to motivate other international countries to establish their crypto reserves, accelerating mainstream cryptocurrency integration.
The announcement of the US strategic crypto reserve has generated a significant positive response in the market, reflected in the rise of Bitcoin and other cryptocurrencies. This move could serve as a vital push for integrating cryptocurrencies into the global financial system.
