Trump comments jolt markets as crypto-linked shares and bitcoin climb

Crypto-related U.S. equities rallied after the U.S. stock market close, with Circle (CRCL) up 6.24% and Bitmine gaining 8.29%. Strategy (MSTR) was roughly flat amid renewed headlines about "selling coins." Bitcoin also strengthened, rising from around $62,000 and briefly nearing $65,000. The catalyst was once again U.S. President Donald Trump, whose off-the-cuff remarks have repeatedly moved risk assets. 1) One vague line, broad reaction With the official rollout of "Trump Accounts," risk appetite tied to expectations of a longer-running U.S. equity bull market resurfaced. Asked whether the Trump Accounts could eventually include bitcoin, Trump replied: "May occur." The comment contained no policy detail or commitment, yet it was enough to lift bitcoin and crypto-linked stocks in short order. The move underscores how sensitively markets respond to any hint of official recognition for cryptocurrencies. The open question is durability: sentiment-driven rallies can fade as quickly as they appear. 2) On-chain flows suggest fresh money hasn't followed Price strength does not necessarily mean new capital is arriving. Glassnode on-chain data shows bitcoin fund flows over the past 30 days remain net outflows. The uptick appears driven more by repositioning of existing capital and short covering than by sustained, long-term accumulation. That distinction matters. Rallies backed by meaningful inflows tend to be healthier and more persistent than those sparked mainly by headlines and sentiment. 3) Cycle watch: MVRV not at classic bottom signal Another indicator to monitor is MVRV (Market Value to Realized Value), a commonly used crypto cycle gauge comparing bitcoin's market value with its realized value (the average price at which coins last moved). Historically, MVRV falling below 1 has coincided with major bear-market lows. Last Tuesday, bitcoin's MVRV briefly dipped to about 1.1, its lowest level this year, suggesting prices approached but did not enter the traditional "below 1" bottom zone. Following the rebound, MVRV has moved back to around 1.2. Whether the latest bounce is a bear-market recovery phase or the start of a broader reversal remains unclear. A drop below 1 would be a stronger historical bottom signal, but it has not occurred. 4) From headline risk to a market feature A broader takeaway is that "remarks driving rallies" are becoming more embedded in market pricing. The introduction of "Trump Accounts" is described as a rare instance of a White House-linked policy tool being framed in a way that markets interpret as directly supportive of U.S. equities, connecting government support, newborn benefits, the S&P 500, and broader stock-market performance in a single narrative. Against that backdrop, even a hint that crypto could be included adds another layer of headline-driven optionality. For retail investors, this is less a signal to blindly chase moves and more a reminder of liquidity risk: when prices are being pushed by narratives and high-level soundbites, late buyers can end up providing the exit. 5) Bottom line Trump's "it could happen" comment helped push bitcoin close to $65,000 overnight, a move that is both attention-grabbing and risky. With on-chain flows still weak and cycle signals mixed, uncertainty remains elevated. The BIT platform says it offers trading access to cryptocurrencies such as BTC and crypto-linked equities including CRCL and MSTR, with 24/7 USDT deposits and near-instant settlement to respond to volatility. Disclaimer: This article is a guest contribution by an external author. All market observations, data analysis, and opinions expressed are the author's own and do not represent the official position or research of the BIT platform, nor do they constitute investment advice or a solicitation. BIT makes no express or implied warranties regarding the accuracy, completeness, or timeliness of the content. Prices and data are as of publication and may change due to market fluctuations. Cryptocurrencies and related securities are highly volatile, and investing involves the risk of losing principal. Past performance is not indicative of future results. Investors should make independent decisions and consult an independent professional adviser when necessary.