Bitcoin surged 11% to a two-month high above $71,000, adding nearly $190 billion to the crypto market capitalisation. The rally followed renewed crypto support from Donald Trump, while strong ETF inflows and a sharp unwind of short positions further boosted sentiment. Ethereum and major altcoins also rallied.

The total crypto market cap surged $113 billion as Bitcoin and Ethereum rallied, pushing valuations toward $2.3 trillion amid a fragile 2026

The move triggered nearly $2 billion in crypto liquidations and lifted crypto-linked stocks, with Strategy and Bitmine gaining around 10%.