Leading cryptocurrencies rallied on Wednesday on news that Bitcoin would be granted special status in the national strategic cryptocurrency reserve.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:45 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +4.01% | $90,164.31 |
| Ethereum (CRYPTO: ETH) |
+3.79% | $2,245.90 |
| Dogecoin (CRYPTO: DOGE) | +2.42% | $0.2029 |
What Happened: The apex cryptocurrency surpassed $90,000, recouping gains lost due to the ongoing tariff announcements by President Donald Trump.
The momentum trickled to the rest of the market as Ethereum sailed past $2,500, hitting an intraday high of $2,272.80.
The improvement in sentiment came after Commerce Secretary Howard Lutnick indicated major policy announcements during Friday’s White House crypto summit. He confirmed that Bitcoin may receive special status in the national cryptocurrency reserve, but other tokens will be treated differently but positively.
The rally liquidated short positions worth $145 million from the cryptocurrency market in the last 24 hours.
Bitcoin’s Open Interest popped 5.34%. A surge in spot price, coinciding with a jump in OI, indicated an influx of fresh money into …
