Bitcoin price surged to $104,900 on Saturday evening, marking a 2% increase in just one trading session. This dramatic rally followed former President Donald Trump’s recent hint at a “total reset” in trade relations with China. Consequently, investors worldwide are closely monitoring the surge, which has injected new enthusiasm into the digital currency market.
In addition, market activity reached unprecedented levels as Bitcoin’s 24-hour trading volume soared to an estimated $78 billion. Moreover, Bitcoin’s market capitalization has now surpassed the $2 trillion mark, indicating renewed investor confidence on a global scale.
Transitioning seamlessly from Bitcoin’s rally, leading altcoins also registered significant gains. For instance, Ethereum climbed nearly 11% to approximately $3,500, while Dogecoin recorded a striking 14% increase to break through the $0.30 level. Furthermore, on-chain data reveal that the number of daily transactions exceeded 300,000, with active wallet addresses surging by roughly 30% compared to the previous week.
A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner. We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS…
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) May 10, 2025
Trump posted: “A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner.”
Trump added: We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!
Bitcoin Surge Spurs Record Volumes
Investors and market analysts have taken particular note of the impressive metrics accompanying Bitcoin’s rise. Not only has the cryptocurrency experienced a 2% jump to $104,900, but its network also processed over 300,000 transactions in just 24 hours.
In tandem, the trading volume reached an eye-popping $78 billion, reinforcing the notion that robust digital adoption is gathering pace. Institutional investors, for example, have boosted their Bitcoin reserves by as much as 30% over the past week, further illustrating the market’s unwavering faith in the asset’s long-term potential.
Bitcoin Market Dynamics Amid Trump’s ‘Total Reset’
Moreover, the geopolitical undertones driving this rally have added another layer of complexity to the evolving financial landscape. A seasoned market strategist remarked, “Trump’s recent comments have not only spotlighted potential shifts in global trade but have also catalyzed a wave of investor optimism. This is a classic example of how political signals can reinvigorate market sentiment.”
In addition, the Bitcoin network has registered a 4% increase in its hash rate in the wake of today’s activity, thereby underscoring the enhanced security and resilience of the system. Meanwhile, even lesser-known altcoins have not been left behind, with an average trading volume surge of about 20% across various digital assets.
Bitcoin: Altcoin Trends and Future Perspectives
Looking forward, many analysts predict that the current bullish momentum could persist well into the coming months. Institutional inflows have reportedly risen by nearly 25% this week, supporting the theory that the cryptocurrency market is poised for further growth.
As altcoins continue to rally—Ethereum’s 11% gain and Dogecoin’s 14% surge being two prominent examples—the broader crypto landscape appears ripe with potential for additional breakthroughs.
