Bitcoin price skyrocketed to $93,000 as XRP 'flips' Ethereum by fully diluted valuation
Bitcoin price surged over 8% after a surprise from U.S. President Trump pushed cryptocurrency market valuations higher.
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 rising 8% in a rare weekend volatility.
Trump sparked a cryptocurrency storm over the weekend after posts on Truth Social referenced a cryptocurrency reserve including BTC, Ether, and several altcoins.
After initially only referencing XRP, Solana, and Cardano, the President's account added plans for additional tokens.
"And clearly, BTC and ETH, as well as other valuable cryptocurrencies, will be the focus of the Reserve," the next post stated.
"I also like Bitcoin and Ethereum!"
Weekend order book liquidity decreased, thereby ensuring a rapid increase across cryptocurrency markets, with BTC/USD nearly reaching $92,000 on Bitstamp.
"Market changes happen when no one expects them," crypto trader, analyst, and entrepreneur Michaël van de Poppe responded on X.
"The latest crash was probably the biggest manipulation ever for people to hold large positions in $BTC and $ETH. The bottom was there. The bottom was above Altcoin. The easy cycle has finally begun." #Bitstamp