The cryptocurrency market is experiencing a significant surge in bullish sentiment, driven by a powerful combination of favorable political developments and tangible institutional interest. Former U.S. President Donald Trump, speaking via a recorded message at a crypto summit hosted by Coinbase, reinforced his pro-digital asset stance, promising his administration would work towards creating "clear and simple market frameworks." This declaration, coupled with legislative progress on bills like the GENIUS Act for stablecoins, has injected a fresh wave of optimism into the market. This positive sentiment is directly reflected in the price action of major cryptocurrencies. Bitcoin (BTC) has powerfully reclaimed the $110,000 level, with the BTCUSDT pair registering a 2.125% gain to trade at $110,178.84. The asset pushed to a 24-hour high of $110,493.51, demonstrating significant momentum after finding solid support near the day's low of $107,688.54. The confluence of high-profile political endorsements and strong technical performance is creating a compelling narrative for traders.

Trump Media ETF Filing Amplifies ETH and Altcoin Momentum

Adding fuel to the fire, the New York Stock Exchange (NYSE) has officially filed for a rule change to list the Truth Social Bitcoin and Ethereum ETF. This proposed fund, a venture by Trump Media and Technology Group, is not just another spot ETF; its structure is particularly noteworthy for traders. The fund intends to hold Bitcoin and Ether (ETH) in a 3:1 ratio, a move that places significant institutional weight behind Ethereum. The market has responded decisively to this news. Ethereum has significantly outperformed Bitcoin over the past 24 hours. The ETHUSDT pair soared by an impressive 5.91% to reach $2,607.95, charting a strong upward trajectory from a low of $2,461.30 to a peak of $2,633.47. This outperformance is even more evident in the ETHBTC trading pair, which surged 4.55% to 0.02389. This move suggests capital is rotating from Bitcoin to Ethereum, with traders front-running the potential demand the new ETF could create.

Technical Analysis: ETHBTC Breakout and Altcoin Rally

From a technical standpoint, the ETHBTC chart is now a critical focal point for the entire market. The pair is challenging the key resistance level around 0.02400, a ceiling it briefly touched at its 24-hour high of 0.02403. A sustained break above this level could signal the beginning of a new "altseason," where alternative cryptocurrencies post significant gains against Bitcoin. The current market action already supports this thesis. Several major altcoins are showing remarkable strength. For instance, the ADABTC pair has climbed 5.90% to 0.00000556 with substantial volume, while the AVAXBTC pair has exploded by 6.73% to 0.00022670. This widespread strength in altcoin-BTC pairs indicates a growing risk-on appetite among traders, who are diversifying away from Bitcoin in search of higher returns. The political news and the specific structure of the proposed Trump-branded ETF appear to be the primary catalysts for this market-wide rotation.

While the spotlight is on ETH, Bitcoin's price action provides the stable foundation for this broader market rally. Its ability to hold support above $107,500 and push past the psychological $110,000 barrier is crucial. The trading volume for BTCUSDT, at approximately 88.5 BTC, is moderate, suggesting the move is steady rather than driven by a short-term speculative frenzy. However, the volume on altcoin pairs is more telling; for example, the AVAXBTC pair saw volume of nearly 860 BTC, indicating strong conviction behind the move. In contrast, some assets like Solana (SOL) are lagging, with the SOLBTC pair down a slight 0.235%. This divergence highlights a market that is selective, favoring assets with strong narratives, like Ethereum's ETF inclusion. For traders, the key levels to watch are the $110,500 resistance for BTC and the 0.02400 breakout level for ETHBTC. A successful breach of these levels could unlock the next major leg up for the entire digital asset class, cementing the link between political winds and crypto market fortune.