Bitcoin Leads Crypto Rally as White House Meeting Sends Bullish Signals
The crypto market has experienced a significant rally in recent days, with Bitcoin (BTC) leading the charge. The price of BTC jumped by 11.78% to $71,916.32, marking one of the best weekly closes since the start of the year.
The surge in prices was triggered by several factors, including the White House meeting with industry executives, which sent bullish signals to market whales. President Donald Trump reaffirmed his focus on making the United States the crypto capital of the world, and Coinbase CEO Brian Armstrong noted that the administration has delivered on most of its crypto campaign promises.
Other altcoins such as Ethereum (ETH), Solana, XRP, Binance Coin, and Dogecoin also joined the rally, with each relying on Bitcoin's strength to pare off losses. Ethereum broke the $2,200 resistance level, while Solana hit a monthly high of $87.48.
The influx of capital into ETF products, particularly BlackRock, has also contributed to the price surge. Bitcoin ETFs saw an inflow of $517.20 million, with BlackRock leading other asset issuers with $284.74 million in assets.