Bitcoin surges amid relief rally and Trump’s intervention
Bitcoin is surging as global markets rebound and President Donald Trump reinforces his support for the digital assets sector in its intensifying confrontation with traditional Wall Street banks.
This is the bullish assessment from Nigel Green, CEO of global financial advisory giant deVere Group as the cryptocurrency jumped 8% to as much as $73,777, its highest level in a month, as investors rotated back into risk assets following easing fears about the potential impact of the war in Iran on global energy markets.
He says: “The Bitcoin rally reflects two powerful forces aligning at once: improving risk sentiment across global markets and renewed political backing for crypto from Washington.
“The original and most influential crypto is responding to a combination of macro relief and political support.
“Markets had been rattled by concerns the Iran conflict could deliver a prolonged shock to energy markets and global growth.
“As those fears eased, investors moved back into risk assets and crypto is often the fastest responder when sentiment turns.
The deVere CEO continues: “At the same time, President Trump has stepped in publicly, via his Truth Social platform, to defend the digital assets sector against pressure from traditional banks, which sends a clear signal to markets about the direction of US policy.”
Late on Tuesday, Donald Trump posted that banks were attempting to undermine the Genius Act and warned his administration would not allow it.
The legislation created a regulatory framework for the rapidly expanding stablecoin sector.
Since its passage, tensions have grown between crypto firms and traditional lenders over rules that allow platforms such as exchanges to pay interest on stablecoin balances held by users.
Nigel Green says the dispute highlights a deeper shift underway in global finance.
“Stablecoins are emerging as a new digital form of the US dollar, and that places crypto platforms into direct competition with traditional banks,” he explains.
“When banks push back against that development, it shows how significant the shift has become.”
Bitcoin had fallen sharply from its October peak near $125,000 before rebounding in recent sessions as broader market sentiment appears to improve.
The latest rally illustrates how closely digital assets are now tied to both macroeconomic developments and political signals coming out of Washington.
“Crypto markets react rapidly to changes in global risk appetite, but they also respond to regulatory direction,” he says.
“When geopolitical concerns ease and the White House signals clear support for the sector, those forces combine to create powerful momentum for digital assets.”
Last week, before the latest relief rally, and looking beyond mid-2026, Nigel Green said that he sees the potential for Bitcoin to exceed its previous record high before the year concludes.
“Once momentum re-establishes, fresh all-time highs are achievable before year-end,” he stated. “The prior peak is not a permanent ceiling.”
Nigel Green emphasises that volatility remains intrinsic to digital assets but argues that cyclical corrections have historically preceded renewed expansion phases.
“The key issue is whether structural adoption has stalled,” he says. “Our assessment is that it has not. Institutional infrastructure is broader, deeper and more resilient than at any point in Bitcoin’s history.”
He concludes: “For now, the Bitcoin bulls seem to be back in charge.”