According to BlockBeats, on May 10, New Hampshire passed a bill allowing the creation of strategic Bitcoin reserves, and Arizona also passed legislation supporting cryptocurrency reserves. As the November elections approach, the momentum at the state level reflects political leaders' attention to digital asset policies.
Recent optimistic remarks by President Trump regarding US-China trade negotiations have eased market anxiety and correspond with the new trade agreement signed with the US and UK, boosting confidence in the stock and crypto markets.
Analysts point out that the recent trend marks a break in the sluggish price behavior of altcoins. Investors are changing their views on cryptocurrencies, and altcoins are experiencing buying pressure due to risk appetite sentiment.
Ethereum surged 30% this week, attributed to increased institutional interest and momentum from the Pectra upgrade. The upgrade introduces execution layer reforms that enhance efficiency and scalability. Ethereum's price is far below its historical highs, suggesting significant upside potential in the future.
Traders are closely watching the US-China trade negotiations this weekend, which will begin Saturday evening in Switzerland. Any signs of a stalemate or escalating tensions could undermine the current upward momentum.
