Crypto majors are green and rebounding after Trump pivoted on EU tariffs; BTC +2% at $89,900; ETH +2% at $2,995, SOL +2% at $130; XRP +3% to $1.94. CC (+15%), SKY (+11%) and SAND (+10%) led top movers
The cryptocurrency market rebounded across the board after U.S. President Trump softened his stance on EU tariffs, with market sentiment improving quickly. Bitcoin (BTC) returned to the $89,900 level, Ethereum (ETH) climbed to $2,995, and Solana (SOL) broke through $130, with all three major coins up roughly 2%.
After Trump hinted at a softer approach to EU tariffs on social media, financial markets rallied. Traders interpreted this as a signal that U.S.-trade tensions may be cooling, driving a broad recovery in risk assets. As highly sensitive risk assets, cryptocurrencies benefited from this macro tailwind, clearly attracting fresh buying pressure.
Beyond the three major coins, altcoins performed even more aggressively. Coinbase (COIN) stock surged over 15%, Sky (SKY) gained 11%, and The Sandbox (SAND) jumped 10%. XRP benefited from recent positive regulatory developments at Ripple Labs, pushing its price to $1.94 with a 3% gain.
Notably, BitGo has submitted an IPO application to U.S. regulators, with the company valued at $2.1 billion, making it the first cryptocurrency custody firm to pursue the public capital markets. Meanwhile, Solana ecosystem's SKR token has become a market focal point, with its FDV (fully diluted valuation) soaring 250%, reflecting investor appetite for Solana network use cases.
However, the market isn't uniformly optimistic. As Bitcoin climbed sharply, over $1 billion in positions were liquidated across the market in a short timeframe, highlighting the significant risks leverage poses in highly volatile environments. Analysts caution that regulatory uncertainty and geopolitical factors may continue to drive price swings, and investors should manage their positions carefully.
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