Bitcoin News Today: Trump administration boosts crypto support Bitcoin hits $103,839

The U.S. administration under President Donald Trump has continued to signal strong support for the cryptocurrency sector, reinforcing its commitment to positioning the United States as the global leader in digital assets [1]. In a recent public address from the White House, Trump reiterated his vision of making the U.S. the “crypto capital of the world,” and emphasized that cryptocurrencies will continue to play a significant role in the financial landscape. He also hinted at a bullish outlook for Bitcoin and other major cryptocurrencies [2].

This statement aligns with a series of regulatory and policy actions taken by the Trump administration in 2025, including the passage of the GENIUS Act, which provided much-needed regulatory clarity for stablecoins and paved the way for institutional investment. Additionally, earlier in the year, the administration announced the creation of a strategic Bitcoin reserve, although progress on that initiative remains pending [3]. Trump has also been placing pro-crypto officials in key government roles, signaling a broader effort to integrate digital assets into the mainstream financial system. Notably, the administration has banned the development of central bank digital currencies (CBDCs), citing concerns over surveillance and market dominance [4].

In a significant move, Trump signed an executive order on August 10, 2025, that revisits Department of Labor guidance regarding the inclusion of alternative assets, such as Bitcoin ETFs and private equity, in 401(k) plans [5]. This development is expected to increase access to digital assets for retail investors and could further legitimize Bitcoin and other cryptocurrencies as part of traditional financial portfolios. Eric Trump, the president’s son, also recently warned traders not to bet against Bitcoin and Ethereum, reinforcing the bullish sentiment around the space [6].

The administration’s pro-crypto agenda has been widely seen as a catalyst for a recent market rally, with Bitcoin hitting a new price high of $120,000 per coin in late July. As of August 1, 2025, Bitcoin was trading at $103,839.00, and Ethereum was at $2,530.91. Analysts have speculated that Trump’s actions could drive Bitcoin toward $150,000 by the end of the month. However, it is important to note that these are forecasts and not confirmed outcomes [7].

While the market has responded positively to the administration’s pro-crypto policies, some analysts have raised concerns about the potential risks of a financial bubble. For example, Henrik Zeberg, a macroeconomist at Swissblock, warned that Bitcoin and stocks could face a significant crash if the financial bubble were to burst [8]. The upcoming inflation data and the possibility of a Federal Reserve rate cut are also expected to influence investor sentiment. According to Polymarket, there is an 82% probability that the Fed will announce a rate cut in its September meeting, a figure that could fluctuate depending on the data released this week [9].

In summary, President Trump’s recent statements and policy actions have reinforced the administration’s bullish stance on cryptocurrencies, particularly Bitcoin. These developments are likely to continue shaping the regulatory environment and investor behavior in the coming months. Whether the market sustains its current momentum or faces volatility will depend on the broader economic context and the execution of the administration’s crypto strategy.

Sources:

[1] Forbes (https://www.forbes.com/sites/digital-assets/2025/08/09/trump-just-dropped-a-122-trillion-crypto-price-bombshell-sending-bitcoin-ethereum-and-xrp-sharply-higher/)

[2] CoinMarketCap (https://coinmarketcap.com/community/articles/6898fee29af91a539f438965/)

[3] AOL.com (https://www.aol.com/investing-private-equity-crypto-means-110300215.html)

[5] Yahoo (https://finance.yahoo.com/news/trump-pushes-private-equity-401-120000250.html)

[6] MSN (https://www.msn.com/en-us/money/markets/eric-trump-warns-traders-to-stop-betting-against-btc-and-eth/ar-AA1KcUev?ocid=finance-verthp-feeds)

[7] CoinCentral (https://coincentral.com/bitcoin-price-prediction-could-btc-smash-through-150k-in-august-heres-the-outlook/)

[9] Polymarket (https://polymarket.com)