Bitcoin Broke Through Resistances: Will US Influence Trigger the Altcoin Bull? - Coin Bulletin

**Bitcoin (BTC) has risen by more than 5% in the last 24 hours, reaching $64,828. Eyes turned to the reasons behind the rise.

On Friday, August 23, the dovish remarks of US Federal Reserve Chairman (FED) Powell had a positive impact on the cryptocurrency market.

The possibilities of more interest rate cuts than expected or the possibility of interest rate cuts coming earlier than expected in September have brought an increase in risk markets in all areas.

On the other hand, US Presidential Candidate Kennedy Jr.'s announcement that he will withdraw from the presidential race and support of crypto advocate Donald Trump also had a positive impact on the markets.

Trump's potential win to include Bitcoin in the US national reserve has directly impacted the cryptocurrency market. Kennedy has shown a friendly attitude towards the crypto industry in the past year. Most recently, he promised to issue an executive order regarding a few Bitcoins.

Trump's DeFi platform and altcoin bull

On the other hand, on Thursday, Trump announced his support for a crypto project called The DeFiant Ones.

This project is managed by two of Trump's sons. In an announcement made on a Telegram channel on Friday, it was stated that a new DeFi platform would eliminate "corrupt, expensive, and inefficient intermediaries".

Both the positive data from the US and Trump's moves towards the altcoin market have increased expectations for a potential altcoin bull run after September.

According to CoinGecko data, Bitcoin, which has shown a 5% increase in the last 24 hours, is currently trading at $64,300. With this rise, Bitcoin has almost recovered all of its August declines.