Bitcoin Hits Six-Week High in Wake of Trump’s Pro-Crypto Speech
SUMMARY
Bitcoin hit a six-week high of $69,462 on Monday, rising 2.6% following Donald Trump's expanded pro-crypto agenda and expectations of U.S. Federal Reserve interest rate cuts. Trump's pledge to make the U.S. the “crypto capital of the planet” and his plan to create a strategic Bitcoin stockpile from seized assets bolstered investor sentiment. The Fed’s anticipated rate cuts further boosted market mood. The surge also benefited smaller tokens like Ether, Solana, and Dogecoin. Despite the rally, Bitcoin remains about $4,400 below its record high of nearly $74,000 from March. The token has seen increased inflows into U.S. exchange-traded funds this year, contributing to its recent gains.
