Ah, the cryptocurrency market, a place where dreams are made and fortunes are lost. And what better way to spice things up than with a little political intervention? Yes, dear reader, it seems that the great and powerful Donald Trump has once again graced us with his presence, this time in the form of a call for an aggressive rate cut.
Bitcoin Hits New ATH After Trump’s Rate Cut Call
On the fateful day of June 9th, our dear leader took to the digital pulpit of Truth Social to declare that the Federal Reserve’s interest rates were “at least 3 points too high.” Little did he know, his words would send shockwaves through the crypto market, causing Bitcoin to surge past the $112,000 mark and set a new all-time high.
As the news spread like wildfire, Bitcoin’s price jumped dramatically, breaking free from its previous record of over $111,000. This sudden surge in price was a stark reminder of the power that macroeconomic and political changes can have on the crypto market.
Trump’s unexpected statement acted as a jolt to the market, breaking weeks of price compression and sideways movement that had limited Bitcoin’s upside potential. It seems that the man who once declared bankruptcy has now become the kingmaker of the crypto world.
In his post, Trump emphasized the negative financial impacts of the country’s currently elevated interest rates, stating that they were already “at least 3 points too high.” While his rate reduction call is not an official policy move, Trump’s current influence over crypto market sentiment has been growing strong since his election and public support of digital assets.
According to CoinMarketCap, the Bitcoin price has retraced slightly from its ATH level of $112,000 to around $111,173, reflecting a modest 2.21% increase in the past 24 hours. This recent surge has also extended toward lower-cap cryptocurrencies like Ethereum, Cardano, XRP, which have gained between 4% and 6%.
Ethereum Follows Bitcoin’s Lead In Gains
Tracing Bitcoin’s path, Ethereum has also experienced a notable rally following Trump’s rate cut call. The top altcoin surged by about 5% to $2,746—the highest level reached in nearly a month. Although the gains were partly due to the sentiment flip from Bitcoin’s upward momentum, ETH benefited significantly from its own investor inflows as traders looked to capitalize on the growing market strength.
In recent weeks, Ethereum lagged in both performance and price behind Bitcoin. The cryptocurrency had been caught in a prolonged consolidation phase and price decline. However, the recent rally, however small, now indicates that confidence may be returning to altcoins. At the time of writing, Ethereum continues its upward momentum, trading at $2,792 with a 6.43% gain in the past day.
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2025-07-11 05:43