Crypto Markets Today: Altcoins Lead Gains as Trump’s Dividend Plan Sparks Retail Rally
Bitcoin has risen above $106,000 after two weeks of declines, with altcoins like XRP, XLM, and HBAR posting significant gains, driven by speculation surrounding President Trump’s proposed $2,000 tariff dividend. Bitcoin's dominance has dropped to 59.1%, indicating a shift in investor focus to altcoins. The total value locked (TVL) in decentralized finance (DeFi) protocols increased to $142.8 billion, reflecting heightened retail enthusiasm. Market indicators suggest a broader strength in altcoins as the 'altcoin season' gauge rose from 23 to 34. Despite the optimistic rebound, options data indicates a mixed sentiment, with futures showing net selling, raising questions about the sustainability of recent gains. This market activity signals a strengthening interest in cryptocurrencies following Trump's announcement, reminiscent of similar economic stimuli during the Covid era.
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