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 surged across the board after President Trump reversed his stance on EU tariffs. Bitcoin rallied strongly to $89,900, posting a 2% single-day gain that lifted overall market sentiment toward optimism.
Beyond Bitcoin, other flagship cryptocurrencies delivered strong performances. Ethereum climbed 2% to $2,995, while Solana broke through the $130 level with a 2% daily increase. Ripple posted the strongest gains among majors, surging 3% to $1.94.
This rally featured even more dramatic moves in select tokens. The CC token skyrocketed 15% in a single day, SKY gained 11%, and SAND surged 10%. Notably, Solana ecosystem token SKR saw its valuation explode 250%, becoming the focal point of the market this week.
Alongside the price rebound, leverage activity in the crypto market picked up noticeably. Over $1 billion in liquidations occurred during Bitcoin's recovery, signaling heightened short-term volatility. Institutional developments also drew attention as BitGo's planned $2.1 billion IPO continues to generate buzz, reflecting growing institutional demand for crypto custody and compliance services.
Analysts noted that any signs of easing in tariff policy will directly impact market risk appetite, and investors should keep a close eye on macroeconomic trends.
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