Bitcoin price skyrockets to $93,000 as XRP 'flips' Ethereum by fully diluted value
Bitcoin price increased by over 8% following a surprise from U.S. President Trump, boosting the cryptocurrency market valuation.
Bitcoin reached nearly $93,000 on March 2 when U.S. President Donald Trump doubled the strategic cryptocurrency reserves.
Trump wrote: "I also like Bitcoin and Ethereum!"
Data from Cointelegraph Markets Pro and TradingView shows BTC/USD rose 8% in a rare weekend fluctuation.
Trump sparked a cryptocurrency storm over the weekend after posts on Truth Social mentioned a cryptocurrency reserve including BTC, Ether, and some altcoins.
After initially only referencing XRP, Solana, and Cardano, the President's account added plans for additional tokens.
"And it’s clear that BTC and ETH, along with other valuable cryptocurrencies, will be the focus of the Reserve," the following post stated.
"I also like Bitcoin and Ethereum!"
Weekend order book liquidity decreased, which ensured a rapid increase across cryptocurrency markets, with BTC/USD nearing $92,000 on Bitstamp.
"Market changes happen when no one expects it," cryptocurrency trader, analyst, and entrepreneur Michaël van de Poppe responded on X.
"The latest crash is probably the largest manipulation ever so that people can hold large positions in $BTC and $ETH. The bottom was there. The bottom was on Altcoin. The easy cycle has finally begun."
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