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 strongly after Trump softened his stance on EU tariffs. Trump said Monday he "won't impose tariffs on the EU," reversing his hawkish rhetoric from last week that sparked a market selloff, lifting major cryptocurrencies like Bitcoin across the board and significantly improving investor sentiment.
Bitcoin (BTC) returned to levels near $90,000, rising 2% over the past 24 hours to $89,900; Ethereum (ETH) climbed 2% to $2,995; Solana (SOL) gained 2% to $130; XRP showed stronger performance, jumping 3% above $1.94 to reach a nearly one-month high.
Altcoins showed even more strength, with the CC token surging 15% to top the leaderboard, SKY posting an 11% gain, and SAND delivering a 10% performance. The SKR token in the Solana ecosystem drew significant attention, with its Fully Diluted Valuation (FDV) soaring 250%, becoming the focal point of the market this week. However, even as Bitcoin rallied strongly, the crypto market remains volatile, with over $1 billion in liquidations occurring over the past 24 hours.
On the institutional front, cryptocurrency custody giant BitGo announced the launch of its IPO plan with a valuation of $2.1 billion, signaling sustained growing interest from traditional financial markets in the crypto industry. Analysts noted that uncertainty surrounding tariff policies remains a key variable affecting market direction, and investors should closely monitor developments in US-EU trade negotiations.
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