Bitcoin News Today: Bitcoin’s Bull Run and Trump Crypto Ties Spark Ethical Debate

Bitcoin's price climbed above $112,000 on Wednesday, signaling a potential reversal in short-term bearish sentiment as the cryptocurrency retested critical support levels [3]. Analysts noted the move as a significant development in a market that has shown mixed signals amid broader macroeconomic uncertainty and regulatory pressures [3]. The price action preserved the “bull market support channel,” with some traders suggesting that bulls remain in control [3]. The bounce from the $107,270 level occurred just two weeks before the expected Federal Reserve interest rate cut on September 17, which is seen as a potential catalyst for risk-on assets [3].

At the same time, the U.S. crypto market saw a major development with the Nasdaq listing of American Bitcoin, a company co-founded by Eric Trump and Donald Trump Jr. The stock, trading under the ticker ABTC, opened at $6.90 per share and surged by as much as 90% in its first hour before settling at a 16.52% gain to close at $8.04 [1]. The company, which combines Bitcoin mining, market purchases, and infrastructure support from Hut 8, aims to generate Bitcoin-per-share growth for shareholders [1]. The Trump family's ownership of 98% of American Bitcoin has raised ethical concerns, with critics highlighting a conflict of interest between the president's regulatory approach and his family's financial interests in the crypto sector [2].

These concerns intensified following the recent public offering of World Liberty Financial (WLFI-USD) tokens, which reportedly created $5 billion in paper wealth for the Trump family and other insiders [2]. Meanwhile, Trump Media and Technology Group, the owner of Truth Social, has accumulated $2 billion in Bitcoin and related assets, further linking the president’s business interests to the digital asset space [2]. Ethics experts and critics, including Sen. Elizabeth Warren, have accused the administration of enabling a corrupt system by weakening crypto regulations, allowing the Trumps to benefit disproportionately [2].

Bitcoin’s recent strength was further supported by its performance relative to gold, a traditional macro hedge. Gold reached an all-time high of $3,567 per ounce as global investors sought protection against policy uncertainty and potential dollar weakness [3]. QCP Capital, a trading firm, noted that Bitcoin and gold remain effective hedges against macroeconomic volatility, particularly with the likelihood of two Fed rate cuts this year. However, market participants remain divided, with some anticipating a retest of the $100,000 level in the near term [3].

The broader crypto market, however, remains uneven. XRP, for instance, faces significant headwinds as DeFi activity and total value locked on the XRP Ledger (XRPL) lag far behind Ethereum and Solana [4]. Despite recent upgrades such as automated market makers and EVM compatibility, the XRP network struggles to attract institutional and enterprise adoption [4]. Large wallets have been accumulating XRP, but this has not offset broader selling pressures from institutions, which have liquidated over $1.9 billion in XRP since July [5]. Analysts remain split on XRP’s future, with some bullish on a potential breakout above $3.00 and others cautioning against weak momentum [5].

As the market approaches key events—including the U.S. jobs report and the Fed's rate decision—cryptocurrency prices are likely to remain sensitive to macroeconomic and regulatory developments. With American Bitcoin’s Nasdaq listing and the broader bullish sentiment around Bitcoin, the crypto sector continues to navigate both optimism and skepticism.

Source:

[1] American Bitcoin listed on the Nasdaq - Yahoo Finance (https://finance.yahoo.com/news/american-bitcoin-listed-on-the-nasdaq-141359159.html)

[2] Trump family's American Bitcoin makes stock market debut (https://www.nbcnews.com/business/business-news/trump-american-bitcoin-crypto-venture-raises-conflict-interest-alarms-rcna228837)

[3] Bitcoin bulls 'still in control' as BTC price passes $112K (https://cointelegraph.com/news/bitcoin-bulls-still-in-control-btc-price-passes-112k-analysis)

[4] Now That XRP is Dead, What's Next? Swift Executive Calls ... (https://finance.yahoo.com/news/now-xrp-dead-next-swift-105438346.html)

[5] XRP Symmetrical Triangle Forms Under $3.00, $3.30 ... (https://www.coindesk.com/markets/2025/09/04/xrp-symmetrical-triangle-forms-under-usd3-00-usd3-30-breakout-level-in-focus)