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Trump Endorsement Sends Bitcoin Higher as Altcoins Plunge and Key Crypto Bills Advance

Strong presidential backing coupled with advancing Senate legislation is reinforcing Bitcoin’s appeal against a backdrop of plunging altcoin valuations.

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Overview

  • President Trump’s Truth Social post claimed growth would offset deficits and praised Bitcoin’s adoption as “a great thing” for the dollar, helping lift its price above $108,000.
  • Bitcoin is trading between $107,900 and $108,700, nearing its $112,000 record high and up roughly 14% year to date.
  • Bitcoin’s share of the overall crypto market has climbed nine percentage points this year to 64%, marking its strongest dominance since January 2021.
  • Altcoins have experienced more than $300 billion in market value losses so far in 2025, reflecting investor shifts into Bitcoin and stablecoins.
  • The Senate approved the Genius Act for stablecoin regulation, with administration endorsement of the Clarity Act on market structure, both poised for final congressional action.