Bitcoin Jumps to $71K and Adds $190 Billion After Trump Crypto Push
· Business · Economic Times, Reuters, Investing.com
Bitcoin surged nearly 11% over the past 24 hours to trade above $71,000 on Thursday, reaching a two-month high and adding nearly $190 billion to the total crypto market capitalisation. The rally followed renewed support from President Donald Trump after he addressed crypto industry executives and called on Congress to pass the Crypto CLARITY Act. Ethereum and major altcoins, including BNB, XRP, Solana, and Dogecoin, also rallied by up to 26.26%. The broader market gains were accompanied by the liquidation of over $2.74 billion worth of short positions. Additionally, US spot Bitcoin ETFs attracted $651 million over three trading sessions following a prior period of outflows.
Why it matters
The sharp market rally directly impacts cryptocurrency investors, traders, and digital asset markets globally, signalling renewed institutional inflows and positive regulatory sentiment.
Read the original report — Economic Times
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