Trump's Crypto Comments Send Bitcoin Soaring Past $65K
President Donald Trump's renewed support for the U.S. crypto industry has pushed Bitcoin above $65,000. Speaking on the sector, Trump called it a 'big deal' and warned that China could gain ground if Washington slows digital asset policy. The president emphasized the need for the United States to protect its lead in digital assets, singling out China as a potential competitor.
The comments came as Bitcoin tested the upper end of its July trading range, with whale buying and spot ETF inflows supporting the move. The asset has traded between roughly $58,076 and $66,896 since early July, with $66,900 acting as a nearby technical level. Trading activity has stayed lighter than during earlier rallies.
Market data shows smaller holders reducing exposure while larger Bitcoin wallets add coins. This shift has drawn attention to whether large holders can support another move toward the $70,000 area. U.S. spot Bitcoin ETFs have also attracted fresh capital during August, with net inflows of about $754.69 million and combined net assets near $78.77 billion.