Synopsis
Bitcoin News: Cryptocurrency markets rose after former President Donald Trump’s speech at the Bitcoin Conference in Nashville. Trump announced intentions to establish the US as a crypto hub if re-elected. Bitcoin and other altcoins experienced substantial growth, reflecting investor optimism.
Cryptocurrency markets were trading higher on Monday following former US President and Republican presidential nominee Donald Trump’s speech at the Bitcoin Conference in Nashville.
Trump addressed the Bitcoin 2024 conference in Nashville on Saturday, taking a stand opposite to his earlier declaration that Bitcoin was not money. At the conference, he stated that America will become the crypto capital in the coming days if he returns to the White House.
At 12:30 am IST, Bitcoin (BTC) was trading 3.2% higher at $69,604, while Ethereum surged over 4.5% to $3,372. Meanwhile, the global cryptocurrency market cap rallied by 3.23% to around $2.48 trillion in the last 24 hours.
Crypto Tracker
TOP COIN SETSDeFi Tracker1.69% BuyCrypto Blue Chip – 51.59% BuyBTC 50 :: ETH 500.70% BuyNFT & Metaverse Tracker0.39% BuySmart Contract Tracker-0.42% BuyTOP COINS (₹) Ethereum283,233 (4.77%)BuySolana16,054 (4.21%)BuyBitcoin5,819,552 (3.21%)BuyBNB49,645 (2.59%)BuyTether84 (0.02%)Buy”Bitcoin surged past $69,000 over the weekend following former US President Donald Trump’s speech at the Bitcoin Conference in Nashville. Trump announced plans to create a strategic national Bitcoin stockpile if re-elected. BTC bulls are now targeting the $70,000 level, and if they break through, Bitcoin could ascend to the resistance zone between $72,000 and $73,777,” said Edul Patel, CEO of Mudrex.
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View Details »Similarly, the CoinDCX Research Team noted, “Over the weekend, the market has been positive due to remarks from Trump at the Bitcoin conference in Nashville. He made a series of cryptocurrency-friendly policy commitments, including promising to fire SEC Chair Gary Gensler and creating a strategic national Bitcoin stockpile if he becomes president, aiming to make the U.S. a crypto hub.”
Other popular altcoins, such as Solana (4.1%), BNB (2.6%), Dogecoin (3.5%), Toncoin (4%), Cardano (2.8%), Avalanche (3.6%), Shiba Inu (2%), Polkadot (1.5%), and Chainlink (3%) also surged.
The volume of all stablecoins is now $48.1 billion, which is 89.71% of the total crypto market 24-hour volume, as per data available on . Bitcoin’s dominance is currently 55.44%. BTC volume in the last 24 hours declined 36.7% to $22.97 billion.
Tech view by ZebPay Trade Desk
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Bitcoin corrected almost 27% from its all-time high of $73,777 and dropped to $53,485. The bulls defended the support of $52,000 and the lower longer shadow indicated buying around these levels. The asset broke the psychological resistance of $60,000 and surged to $69,800. BTC has a strong resistance at $70,000 and $73,777. Once the prices break, close and sustain above the resistance, we may expect it to rally further. $66,000 and $60,000 will act as a strong support for the asset.
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of the Economic Times)
