Trump’s ‘historic’ speech at the Bitcoin conference on Sunday is expected to boost confidence in the crypto market.
Bitcoin Surges Ahead of Trump’s Speech
Before Donald Trump’s highly anticipated speech at the Bitcoin Conference on Sunday, the price of Bitcoin saw a significant jump. Within the last 24 hours, Bitcoin’s value rose by 4.5%, climbing from $64,000 to over $67,000 as of 0730GMT.
Excitement Builds for Trump’s Speech
Trump’s keynote address in Nashville, US, is expected to be a “historic” moment according to event organizer Brandon Green. Green mentioned that while no one knows exactly what Trump will say, it is expected to be very optimistic. This anticipation is contributing to the positive mood in the crypto market.
Bitcoin Market Overview
The market cap of Bitcoin reached an impressive $1.32 trillion, according to data from CoinMarketCap. In the same 24-hour period, Bitcoin’s trading volume was at $35.3 billion, which is a 3.49% increase from the previous day.
Earlier this month, Bitcoin’s price had dropped below $52,000, its lowest level since February 2024. However, the current positive sentiment in the cryptocurrency markets is fueled by the expectations of Trump winning the presidential election and speculations that the Federal Reserve might cut interest rates twice this year.
This boost in Bitcoin’s value and market activity reflects the growing optimism and excitement surrounding the cryptocurrency market as we await Trump’s speech.
Reference: Economy