Bitcoin price tops key level ahead of Trump address

The largest cryptocurrency rose as much as 3.52% to about $66,300 before Trump’s speech, marking its biggest intraday gain since Feb. 13, then slipped back to around $65,500 by 1 p.m. in Singapore, according to the report. Ether also advanced, rising as much as 4.84% earlier in the session before trading near $1,906, up more than 2.5% at the same time.

The rebound came as traders assessed a crowded calendar of macro and political catalysts, with markets looking to Trump’s address for signals on economic policy and Washington’s near-term agenda. Trump delivered the speech on Tuesday night, Feb. 24, scheduled for 9 p.m. ET at the U.S. Capitol, with coverage continuing into early Wednesday in Asia.

Broader crypto prices lifted alongside Bitcoin during the early rally. Solana rose as much as 5.48% and XRP gained as much as 3.53% before also trimming some of the advance as the speech began, the report said.

The bounce followed sustained pressure on crypto prices through February. Bitcoin had been tracking its worst month since June 2022 after a steep selloff that pushed prices into the low $62,000 range, leaving the token down roughly 24% for the month at one point, the report said.

The market’s sensitivity to headline risk has been elevated as investors weigh whether policy developments will ease or tighten financial conditions for risk assets. In the hours leading into Trump’s address, Bitcoin’s rise stood out because it ran counter to the “sustained pressure” that has characterized recent sessions, then partially reversed as traders moved from pre-event positioning into the live speech. 

While the report did not attribute the move to a single trigger, the timing matched a familiar pattern in crypto trading: sharp, liquidity-driven swings around major U.S. events during Asian hours, when markets can react quickly to global risk sentiment with thinner order books than during peak U.S. trading.

For now, the Feb. 25 rally leaves Bitcoin attempting to stabilize after a month in which declines were linked to shifting expectations for U.S. interest rates and broader risk appetite. Earlier this week, Bitcoin fell as low as roughly $62,500 before paring losses, as the market weighed the outlook for rates and the tone of investor demand.

Trump’s address itself was widely watched in financial markets because it served as a major political set piece with potential implications for fiscal priorities and regulatory tone. The 2026 State of the Union was staged before a joint session of Congress at the U.S. Capitol, with live coverage and a published schedule placing the address at 9 p.m. ET on Feb. 24.

Bitcoin’s ability to hold above mid-$60,000 levels after the speech-related pullback will likely be watched closely by traders who have been focused on whether the late-February slide is turning into a deeper unwind. On Feb. 25, the price action suggested buyers were willing to step in above the month’s lows, but also that upside momentum was still sensitive to event-driven positioning and profit-taking.