The crypto market saw slight relief from the ongoing market slumber following U.S. President Donald Trump’s State of the Union address, which emphasized economic resilience and policy stability. Bitcoin on Wednesday reflected a loss of 2.57 percent to retail at $65,775. Indicating volatility, the asset showed a minor raise of 0.63 percent in the last one hour, CoinMarketCap showed at the time of writing.
Ether joined Bitcoin in reeling-in gains on Wednesday. At press time, the second most expensive asset after BTC showed a price hike of 6.16 percent to trade at $1,940.
“Bitcoin trades near $66,200, up over three percent, while Ethereum gains almost six percent to around $1,935. Despite the bounce, fear remains elevated, technical resistance holds, and analysts caution this could be a temporary relief rally rather than a confirmed recovery,” Sathvik Vishwanath, Co-Founder and CEO, Unocoin told Coin Headlines.
Surpassing BTC and ETH on the profit ladder, Solana logged a stellar profit of over eight percent over the last day to trade at $83.90. Avalanche (AVAX), meanwhile, rose in price by nearly 11 percent to trade at $9.2.
President Trump’s Tuesday speech had him saying “inflation is plummeting, incomes are rising fast, the roaring economy is roaring like never before.” This optimism played a key role in triggering this minor, but notable rally.
Cardano, LEO, and Chainlink prices also spiked by around seven percent. For XRP, BNB, Dogecoin, Stellar, Hedera, Litecoin, and Zcash — gains were bracketed within the range of three percent to six percent.
The overall crypto market cap was up by 3.43 percent over the last day. The valuation of the market presently stands at $2.26 trillion, CoinMarketCap data showed.
“Markets interpreted Trump’s remarks, highlighting low inflation, strong employment, and continued capital investment as a signal of macro strength and policy continuity, prompting a shift back toward risk assets. Crypto’s relief rally highlights its rising correlation with macro sentiment, U.S. fiscal and trade policies, along with institutional flows, will likely decide if this bounce sustains or fades,” Riya Sehgal, research analyst at Delta exchange told Coin Headlines.
Over 99,420 traders were liquidated in the last 24 hours with the total liquidations hitting $351.45 million, data by CoinGlass showed.