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The cryptocurrency market is buzzing with renewed energy this Thursday, August 7, as Bitcoin and major altcoins stage an impressive recovery from last week’s sharp sell-off. Fueled by highly favorable news from the United States, the entire sector is back in the green and momentum is building.
According to data from CoinGecko, Bitcoin has climbed 2.2% in the past 24 hours, trading at $116,279. Ethereum (ETH) is leading the altcoin charge with a 6.8% jump to $3,843, while Solana (SOL) gains 4.8% to $172. Overall, the crypto market is up 2.8% in the same period.
The driving force behind this rally? The anticipated signing of a pro-crypto executive order by U.S. President Donald Trump. This directive is expected to allow pension funds to invest in digital assets a potential game-changer for the industry.
“The market surged sharply after confirmation that President Trump will sign an executive order enabling the inclusion of private equity, real estate, and crypto assets in retirement plans,”
said a crypto analyst from BTG Pactual during Thursday’s Morning Call Crypto.
“While implementation may take six to eight months, the impact on the medium and long term could be massive.”
Why Ethereum and Solana Are Outperforming
Ethereum and Solana are enjoying an extra boost following a recent decision by the U.S. Securities and Exchange Commission (SEC) stating that certain crypto-related practices do not classify an asset as a security. This opens the door for the launch of new financial products tied to these networks a green light that investors have been waiting for.
Macro Outlook: Lower Interest Rates on the Horizon
On the macroeconomic front, the market is also supported by expectations that the Federal Reserve will cut interest rates in September and October, with a strong possibility of another cut in December. While no major U.S. economic data releases are scheduled for the coming days, investor sentiment remains highly sensitive to labor market updates and other economic indicators.
What This Means for Investors
The combination of policy tailwinds, regulatory clarity, and macroeconomic easing is creating a unique window of opportunity for crypto investors. The current momentum could set the stage for sustained growth especially for blue-chip cryptocurrencies like Bitcoin, Ethereum, and Solana.
Bottom line: The market is signaling a strong bullish sentiment. For investors looking to position themselves ahead of the next big wave, the time to act may be now.
Disclaimer: This content is for informational purposes only and should not be considered financial advice. The views expressed may include the author’s personal opinions. Always do your own research before making any investment decisions. The Crypto Canadas is not responsible for financial losses.
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