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 crypto market rallied across the board after Trump backed off from EU tariff threats, with investor sentiment warming significantly.
Bitcoin surged back toward the $90,000 level, dealing a significant blow to short-sellers. Ethereum and Solana climbed in tandem, while altcoins demonstrated even more robust performance. Tokens like CC, SKY, and SAND posted double-digit daily gains, indicating capital is actively rotating into smaller and mid-cap crypto assets.
BitGo recently filed an IPO with the SEC at a $2.1 billion valuation, making it the first cryptocurrency custody service provider to target the public markets this year. Meanwhile, the Solana ecosystem is experiencing an explosive moment, with the SKR token's fully diluted valuation (FDV) surging 250% in the short term, drawing heavy attention from both retail and institutional investors.
Analysts noted that Trump's softened stance eased concerns about escalating trade tensions, once again highlighting cryptocurrency's hedge attributes as an alternative asset. However, the $100 million in liquidations serves as a reminder that leveraged positions carry high risk in high-volatility environments.
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