🔥 Key Takeaways
Bitcoin and Crypto Market Sees Significant Gains Amid Trump-Powell Feud
The cryptocurrency market experienced a notable surge on late Sunday, with Bitcoin (BTC) and other major cryptocurrencies seeing significant price increases. This sudden spike is largely attributed to the escalating rivalry between President Donald Trump and Federal Reserve Chairman Jerome Powell, which has spooked investors and led them to seek refuge in safer assets. As a result, Bitcoin climbed 1.3% to reach as high as $92,356, according to data from CoinGecko.
Altcoins Join the Rally
Ether (ETH), the second-largest cryptocurrency by market capitalization, also experienced a substantial gain, rising 1.8% to $3,163. Solana (SOL) was among the top performers, leading the charge among altcoins. This broad-based rally indicates a growing appetite for cryptocurrencies as investors become increasingly wary of traditional assets amidst the political tensions between Trump and Powell.
Monero Reaches New Record Price
Monero (XMR), known for its privacy-focused features, achieved a new record price as investors sought out safe-haven assets. This move underlines the increasing demand for cryptocurrencies that offer enhanced privacy and security, particularly during times of economic uncertainty.
American Bitcoin Boosts Treasury
In related news, American Bitcoin, a cryptocurrency project backed by Eric and Donald Trump Jr., announced the addition of 139 BTC to its treasury. This move has boosted the project’s treasury above $415 million, marking a significant milestone for the initiative.
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