Rapid Rise in Bitcoin and Cryptocurrency Market

According to data from analysis company Coinmarketcap, the value of the global cryptocurrency market, including bitcoin, increased by approximately 7.44 percent in 24 hours, reaching 2 trillion 600 billion dollars. The price of bitcoin, the largest cryptocurrency in terms of market value, gained more than 9 percent in the last 24 hours and reached its highest level since May 2026.

The weekly value gain of bitcoin, which was traded at 78 thousand 556 dollars as of 12:00, reached 25 percent.

On the other hand, the rise in bitcoin also stimulated the altcoin market. The price of Ethereum, which ranks second in terms of market value, increased by approximately 7 percent to 2 thousand 433 dollars.

Strong support to the market from the US Treasury and Trump

Analysts attributed this sudden rise in crypto assets to the decline in US bond yields, political support from the White House, and a wave of mass liquidation in the futures markets.

One of the most important macroeconomic factors that triggered the rise was the US Treasury Department's announcement that it would increase its bond repurchase program. This move pushed down US bond interest rates and pushed the US dollar to its lowest level in the last 3 months. The loosening of interest rates and the dollar accelerated investors' turn to alternative assets such as bitcoin.

On the political side, Trump's meeting at the White House with representatives of leading crypto companies such as Coinbase, Ripple and Gemini increased confidence in the sector.

Trump, who promised strong support to the sector in order not to fall behind China in the global geopolitical competition, called on Congress to quickly approve the bill called "Clarity Act", which will place crypto assets within a legal framework.

Speculators betting on the fall suffered heavy losses

The sudden price jump in Bitcoin caught speculators off guard, who were expecting a decline in the market. In the last 24 hours, $3 billion worth of cryptocurrency positions remaining in short selling positions in the futures markets were forced to be liquidated.

Bitcoin positions alone accounted for $1.8 billion of this amount. This mass liquidation wave further accelerated the upward movement of prices.