After the sharp drop to $89,111 on Monday (13th), Bitcoin has been steadily rising in recent days, and reached a high of $105,840 at midnight today, once again aiming at the historical high of $108,365 set in mid-last month, showing great strength.
XRP has the best performance among the top 10 cryptocurrencies in the past week
With Bitcoin's rise, mainstream Altcoins such as ETH, XRP, and SOL have also been boosted.
Among them, the largest gainer in the past 7 days is XRP, with a surge of 38.34%, followed by Doge with a 27% increase, and ADA in third place with a 22% rise.
The Trump-Xi call eases market concerns
Previously, due to the limited expectations of rate cuts by the US Federal Reserve (Fed) this year, as well as Trump's emphasis on tariff policies, which raised market concerns about US inflation, the stock market and cryptocurrency market were both hit, and investor sentiment once reached a freezing point.
However, recent US economic data showed that inflation has not further heated up, and Trump yesterday had a call with Xi Jinping to discuss issues such as TikTok and trade, which eased concerns about a US-China tariff war. On the 17th, the US stock market rose collectively:
- The Dow Jones Industrial Average rose 334.7 points, or 0.78%, to 43,487.83 points.
- The Nasdaq Composite Index rose 291.91 points, or 1.51%, to 19,630.2 points.
- The S&P 500 Index rose 59.32 points, or 1%, to 5,996.66 points.
- The Philadelphia Semiconductor Index rose 146.78 points, or 2.84%, to 5,309.74 points.
Now, cryptocurrency investors are looking forward to whether Trump will sign an executive order with crypto-friendly policies on his inauguration day. If this happens, it may once again boost Bitcoin.
Further reading: New York Post: Trump will prioritize support for Solana, Ripple, and other US companies, ending 4 years of suppression
