Cryptocurrencies surge as Bitcoin hits $97,000, Ethereum gains 2%

Cryptocurrencies experienced a significant rally today, with Bitcoin (BTC) surging to $97,000, marking a 3% increase, while Ethereum (ETH) rose to $1,840, a 2% gain. Solana (SOL) also saw a 2% increase, reaching $147. The rally was driven by the news of impending US-China trade talks, which sparked optimism in the market. Bitcoin's dominance broke through the 65% mark, indicating a strong bullish sentiment towards the leading cryptocurrency.

New Hampshire became the first state to establish a crypto reserve, while the UK Treasury ruled out the possibility of a Bitcoin reserve. Thumzup, a technology company, announced plans to sell $500 million worth of stock to purchase Bitcoin. SOL Strategies, a Solana-focused investment firm, acquired $18.25 million worth of SOL. Citi and SDX revealed plans to tokenize the pre-IPO market, aiming to enhance liquidity and accessibility for investors.

The global stablecoin supply is projected to increase by 14% by 2025, according to analysts' forecasts. Tether, the issuer of USDT, announced plans to deploy the stablecoin on the Kaia blockchain. WLFI, a decentralized finance platform, will airdrop a stablecoin on the Ethereum mainnet. Michael Saylor, the CEO of MicroStrategy, predicted that artificial intelligence will drive the demand for Bitcoin. Bitwise, a cryptocurrency index fund manager, filed for a NEAR ETF, aiming to provide investors with exposure to the NEAR Protocol. Strike, a Bitcoin payments app, launched a lending service backed by Bitcoin.

Armstrong's startup, which focuses on decentralized finance, was valued at $810 million. Changpeng Zhao, the CEO of Binance, applied for a pardon in the US, following legal challenges faced by the exchange. Bhutan launched crypto payments for tourists, becoming one of the first countries to embrace digital currencies for tourism. Bessent, a prominent economist, expressed concerns about the Federal Reserve issuing a Central Bank Digital Currency (CBDC), stating that it could undermine financial privacy and stability.

Today, the Federal Open Market Committee (FOMC) is set to make a crucial decision on monetary policy. The outcome of the FOMC meeting will have significant implications for the global economy and financial markets. Investors and analysts are closely monitoring the developments, as the decision could influence the trajectory of cryptocurrencies and other asset classes.