Bitcoin surged above $90,000, recovering from a volatile week triggered by US President Donald Trump’s influence on the cryptocurrency market. Over the last 24 hours, Bitcoin rose approximately 10%, pushing the total crypto market over $3 trillion. This increase was bolstered by BlackRock’s announcement of a significant market development. Reports suggest that Trump’s Commerce Secretary, Howard Lutnick, confirmed plans to unveil a US strategic Bitcoin reserve during an upcoming White House crypto summit. Lutnick stated that Bitcoin would receive a “unique status” under Trump’s strategy. The first White House crypto summit will convene key industry leaders to establish a regulatory roadmap and discuss details of the proposed crypto reserve. This news has sparked optimism, driving a wave of buy orders for Bitcoin. Other cryptocurrencies like Ripple’s XRP, Solana, and Cardano also saw substantial gains following Trump’s announcement of a US-focused crypto reserve. — news from Forbes
