Bitcoin nears $74,000 after Trump-hosted crypto summit
Bitcoin touched $74,000 and traded near $73,947.41, while Ethereum, XRP, Solana and Dogecoin also advanced after a White House crypto summit hosted by President Donald Trump.
Leading cryptocurrencies extended their winning rally on Thursday as markets digested a White House summit favorable to digital assets. m. 08170 Crypto Market Climbs Higher Bitcoin touched $74,000 for the first time in almost three months, as renewed momentum kept the top cryptocurrency advancing. Trading volume jumped 18% over the last 24 hours.
Ethereum topped $2,360, while XRP and Dogecoin saw strong rallies. Cryptocurrency-related stocks extended their rally, with Strategy Inc. (NASDAQ: MSTR ) and Bitmine Immersion Technologies Inc. 57%, respectively.
The primary catalyst lifting the sector stems from Wednesday’s high-profile White House cryptocurrency summit hosted by President Donald Trump. Over $1 billion was liquidated from the cryptocurrency market in the last 24 hours, with short sellers taking the majority of the losses, according to Coinglass data. 25% over the last 24 hours to levels last seen on May 29. On Binance, retail derivatives traders held a net short position in BTC, while whales sharply cut their long exposure.
"Greed" sentiment prevailed in the market, according to the Crypto Fear & Greed Index. m. 42% over the last 24 hours. Read Also: If You Invested $100 in Bitcoin After Crypto Was First Mentioned on TV, Here’s How Much You’d Have Now Stocks Sink After Treasury Yields Spike Stocks sold off sharply on Thursday.
21. 17. 251%, after both yields spiked earlier this week to their highest levels in nearly 20 years. Bitcoin’s First Real Test Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, noted Bitcoin approaching its “first real test” at $73,500-$75,000 after a sharp breakout.
” #Bitcoin is approaching its first real test at $73,500-75,000 after this breakout. That's why I think that we'll stall for a second and that the other assets within the ecosystem will start to have their massive breakouts. ” “A sustained reclaim of the STH [Short-term holder] Realized Price, alongside SOPR [Spent Output Profit Ratio] holding above 1 and improving spot demand, would suggest buyers are absorbing breakeven supply,” CryptoQuant stated. com