Cryptocurrencies Surge on Institutional Demand and Trump’s Support Bitcoin Tops $119K

Cryptocurrencies saw a remarkable rise, fueled by institutional demand and growing political support — led by former President Donald Trump’s increasing endorsement.

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Political Support
Institutional Momentum

Political Support

Cryptocurrency prices climbed on Wednesday, driven by rising demand from both individual and institutional investors,
amid growing political support for digital assets from U.S. President Donald Trump.
Bitcoin — the largest cryptocurrency by market value — rose by 2% to reach $119,004.82 as of 5:12 PM Mecca time,
accounting for approximately 62.9% of the total crypto market capitalization.
Ethereum also jumped by 3.75% to trade at $3,170.03, while Ripple increased by 3.1% to reach $2.955.
The total cryptocurrency market capitalization reached around $3.76 trillion,
while total 24-hour trading volume stood at $187.7 billion, according to data from CoinMarketCap.

Institutional Momentum

This positive momentum was further supported by Standard Chartered’s announcement on Tuesday
that it would allow its institutional clients to trade Bitcoin and Ethereum through its UK branch.
This move makes it the first systemically important global bank to offer crypto trading services, according to Reuters.
Meanwhile, El Salvador’s “Bitcoin Office” revealed that the country purchased seven additional Bitcoin units last week,
raising its total holdings to 6,239.18 BTC — valued at over $742 million — as part of its continued digital asset investment strategy.

Cryptocurrencies Surge on Institutional Demand and Trump’s Support

Cryptocurrencies Surge on Institutional Demand and Trump’s Support

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