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
After President Trump shifted his stance on EU tariffs, the crypto market staged a strong rebound, with all major coins closing in the green. Bitcoin (BTC) climbed back to $89,900, posting a 2% daily gain; Ethereum (ETH) rose 2% to $2,995; Solana (SOL) broke above $130 with a 2% uptick; and XRP led the pack with a 3% surge to $1.94.
Beyond the orderly advance in major tokens, the altcoin sector staged a vengeance rally. CC token surged 15% to top the movers, SKY skyrocketed 11%, and SAND added 10%. Market analysts pointed to the Trump administration's softened stance on tariffs as easing investor concerns over trade tensions, thereby fueling a broad-based recovery in risk assets.
However, the violent price swings also inflicted heavy losses on leveraged traders in both directions. Data shows that during Bitcoin's sharp rebound, the crypto market saw over $1 billion in forced liquidations, indicating significant damage to short-term traders in this move.
On the industry front, crypto custody leader BitGo officially filed for an IPO at a valuation of $2.1 billion, marking the most high-profile listing in the digital assets sector recently. Additionally, SKR token in the Solana ecosystem saw its fully diluted valuation (FDV) surge 250%, reflecting investors' heightened focus on emerging projects on the Solana chain. Analysts believe that with improving macro conditions, the near-term bottom for crypto markets may have been established, and sustained performance warrants continued monitoring.
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