Bitcoin Rallies on Trump Push

Bitcoin surged nearly 10% to around $94,000 on Sunday, hitting a one-week high, after US President Donald Trump revealed plans to establish a strategic crypto reserve for the country.

The reserve will include Bitcoin, Ether, XRP, Solana (SOL), and Cardano (ADA).

Trump shared the announcement on Truth Social, stating that the US Crypto Reserve would “elevate this critical industry” and reverse the restrictive policies of the previous administration.

He reiterated his goal of making the US the crypto capital of the world.

Ether also jumped more than 13%, XRP soared 33%, Solana rose 25%, and ADA skyrocketed over 60%.

The move provided a boost to the broader crypto market, which had recently come under pressure due to concerns about Trump’s escalating trade policies and growing fears over the US economy, which led to a selloff in risk assets.

Adding to the industry's volatility was a $1.5 billion hack involving Ether, highlighting the significant risks still present in the space.