Bitcoin erased earlier losses and turned positive in trading after US President Donald Trump publicly reaffirmed his support for the cryptocurrency sector.
The digital asset, which had dipped 3.5% earlier in the session, recovered ground following the president's remarks, highlighting the continued influence of political rhetoric on digital asset markets.
2 billion his family earned from cryptocurrency ventures in 2025, framing the windfall as beneficial for the broader economy.
Trump stated that he has become a "big crypto fanatic," a comment that quickly circulated through financial media and appeared to trigger buying interest among traders.
The reversal underscores how closely crypto markets are tracking the administration's stance, with investors interpreting such endorsements as signals of a favorable regulatory environment.
This development follows a period of heightened visibility for Trump's personal involvement in the digital asset space.
Previous reporting indicated that the former real estate mogul has defended the approximately $1.2 billion his family earned from cryptocurrency ventures in 2025, framing the windfall as beneficial for the broader economy.