Bitcoin rose slightly on Friday, continuing its recent increase after U.S. President Donald Trump signed an order aimed at allowing the use of alternative assets, including cryptocurrencies, in 401(k) retirement accounts.

Altcoins have shown much stronger growth: Ethereum approached the peaks of 2021, while XRP rose amid the conclusion of a lengthy legal battle between Ripple's issuer and the U.S. Securities and Exchange Commission.

However, the rise still appears unsustainable amid a deteriorating global appetite for risk following the implementation of Trump's trade tariffs on major economies. Bitcoin is also trading significantly below its intraday highs.

The world's largest cryptocurrency rose by 0.1% to $116,890.0 by 4:30 PM Moscow time.

Bitcoin and cryptocurrencies are rising after Trump's order on alternative assets.

Trump's order paves the way for alternative asset managers to gain a larger share of the vast American retirement savings market. The order will also facilitate investors' access to alternative assets in their defined contribution retirement plans.

Trump stated that excessive regulation and litigation risks hindered retirees from achieving potentially higher returns on their investments. However, critics warn that investments in alternative assets are inherently riskier, making them less suitable for long-term stability.

Trump's order generally aligns with his pro-cryptocurrency stance, which led to the passage of several cryptocurrency regulation bills earlier this year.

The prospect of increased capital inflows has spurred Bitcoin, helping the cryptocurrency break out of the trading range of $110,000-$115,000 that had persisted since late July.

But a more significant rise in cryptocurrency remains elusive, especially considering that spot Bitcoin ETFs have faced four days of sharp capital outflows. Bitcoin suffered from profit-taking after reaching record highs in July, and the grim risk appetite due to concerns over Trump's tariffs also kept buyers on the sidelines.$BTC #BTC☀ #cryptotalk #NewsAboutCrypto #BinanceSquare