BTC briefly reclaimed the $73,952 price level earlier today, leading to a slight increase in investor sentiment. According to CoinGecko’s Bitcoin data, BTC’s price has risen 5.6% in the last 24 hours, 5.7% in the last week, and 8.3% in the 14-day charts. However, the original cryptocurrency is still down by 8.1% in the previous month and 16.8% since March 2025. BTC’s price has since fallen to the $72,000 price level. Let’s discuss what was behind Bitcoin’s (BTC) sudden price rally, and if the asset can continue its momentum.
Why Did Bitcoin’s (BTC) Price Rally Today, And Can It Continue?
Apart from Bitcoin (BTC), most other crypto assets are also experiencing price surges today. The rally could be due to President Trump’s recent support for the Genius Act, a pro-crypto legislation that aims to bring more regulatory clarity to the budding industry. Investors have likely read the development as a bullish signal, leading to increased inflows for Bitcoin (BTC) and other cryptocurrency assets.
President Trump recently stated in a Truth Social post that that “The Genius Act is being threatened and undermined by the Banks.” Trump further added that “The Genius Act was the U.S.A.’s first big step to make the United States the Crypto Capital of the World.“
Also Read: Amid War Fears, Iranians Turn to Bitcoin as Safe Haven
Bitcoin’s (BTC) latest rally may be fueled by President Trump’s support for the industry. However, the sector is still quite fragile, given the ongoing global geopolitical tensions. There is also a liquidity crunch which led to big price dip in February. Macroeconomic worries also continue to bar investors from parking their funds in crypto assets. Investors who bought the dip au decide to book profits and move to safer bets. Bitcoin (BTC) could face another correction over the coming days under such circumstances.