The cryptocurrency market is showing strong signs of recovery after a turbulent week, with Bitcoin climbing over 4% to approximately $114,662 and Ethereum surging more than 10% to $4,133 in the past 24 hours. This rebound largely follows a statement from President Donald Trump aimed at de-escalating U.S.-China trade tensions, where he expressed, "We don’t want to hurt China, we want to work with them," a significant shift after earlier threats triggered a sell-off in both traditional stock and crypto markets.
In a surprising development, Donald Trump has also emerged as one of the world's largest indirect Bitcoin holders. According to Forbes, his 41% stake in Trump Media & Technology Group (parent company of Truth Social) indirectly translates to about $870 million worth of Bitcoin. Earlier this year, Trump Media invested $2 billion in Bitcoin, mirroring MicroStrategy's strategy. Despite recent market volatility, these Bitcoin holdings have become Trump Media’s best-performing asset, indicating increasing confidence in digital currencies.
This marks a dramatic reversal in Trump's stance on Bitcoin. Previously a critic in 2019, calling it "highly volatile" and "based on thin air," he has now become a proponent. Since returning to office, Trump has advocated for blockchain innovation in the U.S., promoting policies to establish the country as a leader in crypto development. His administration recently introduced the GENIUS Act, designed to boost research and development in blockchain and digital asset technologies.
With Trump's growing influence in the crypto space and whales making strategic moves, the market is at a pivotal juncture. The immediate focus remains on Trump's future statements and how the broader crypto market continues its recovery following the recent trade war anxieties. The question now is whether Bitcoin will sustain its upward momentum or if another correction is on the horizon.
October 2025, Cryptoniteuae