Crypto Markets Surge as Trade War Eases and US States Embrace Digital Assets

Crypto Markets Surge as Trade War Eases and US States Embrace Digital Assets

Global crypto markets soared, driven by easing trade tensions and positive regulatory developments in the US. Total crypto market cap jumped 6.58% to $3.16 trillion, with trading volume spiking 51.57% to $136.5 billion. Bitcoin dominance slipped to 63.63%, reflecting strong altcoin performance.

Bitcoin (BTC) rallied 5.30% to reclaim the $100,000 mark for the first time in three months, trading at $101,310.83. Ethereum (ETH) led gains, surging 17.92% to $2,119.14 as institutional buying intensified. Notably, hedge fund Abraxa Capital Management withdrew 74,000 ETH from Binance and Kraken within 24 hours, fueling bullish sentiment.

All top 10 altcoins posted gains: Dogecoin (DOGE) and Cardano (ADA) rose 11%, while Solana (SOL) advanced 9%. The rally followed news of the US and UK finalizing a trade pact and China restarting trade talks, signaling a broader easing of global trade tensions that boosted risk assets.

US states also delivered bullish regulatory signals. Arizona recognized crypto as a reserve asset, while Oregon passed legislation allowing crypto to be used as collateral in financial transactions. These policy shifts strengthened expectations for mainstream crypto adoption.

Speculative tokens also surged, with double-digit gains in Sui, Etena, Virtual Protocol, AniméCoin, and Taiko, hinting at a potential new altcoin season. Veteran trader Arthur Hayes predicted this rally will broaden, citing US monetary expansion as a key catalyst for an upcoming alt season.