Basri Caneri 
Bitcoin surpassed the $94,000 level due to the surprise developments over the weekend. US President Donald Trump’s statements emphasizing his support for Bitcoin and Ethereum caused a big jump in crypto markets.
Trump: “I Love Bitcoin and Ethereum!”
US President Donald Trump stated on the social media platform Truth Social that the US will create a strategic crypto reserve and that Bitcoin (BTC), Ethereum (ETH) and various altcoins will be included in this reserve.
Initially pointing to altcoins such as XRP, Solana (SOL) and Cardano (ADA), Trump later added that Bitcoin and Ethereum would also be at the center of this reserve.
Following these statements, there was a rapid rise in the crypto markets. Bitcoin surpassed the $94,000 level, gaining 9.6% as the week neared its close. Ethereum managed to exceed the $2,500 level.
XRP’s Market Cap Surpassed Ethereum
The sharp movements in the market were not limited to Bitcoin. XRP surpassed Ethereum (ETH) in terms of fully diluted market capitalization.
This development has created a great deal of excitement, especially among XRP investors. Crypto analysis source The Kobeissi Letter evaluated the activity in the market with the following words:
“This is what the crypto world has been waiting for.”
Unexpected Rise in the Crypto Market
With Trump’s announcements, activity in the crypto market accelerated. BTC rose 17% from its low of $78,000 two days ago and the altcoin market also showed signs of recovery.
Famous crypto analyst Michaël van de Poppe commented on this rise with the following words:
“The market changes when no one expects it. The recent crash may have been the biggest manipulation for big investors to accumulate BTC and ETH. The bottom has been seen, the decline in altcoins is complete, the cycle of easy gains has begun.”
Another analyst, Rekt Capital, described Bitcoin’s fall to $78,000 as a “bearish divergence”, saying:
“Bitcoin has recovered almost all of its bearish divergence. It now needs to close the week above the lower boundary of the $93,500 reaccumulation range. BTC is only 2% away from reaching this level.”
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