Bitcoin BTC/USD Soars to New Heights, Only to Tumble Shortly After

The past week in the world of cryptocurrency was nothing short of eventful. The market saw significant fluctuations, largely influenced by President Donald Trump's tariff announcements.

The past week in the world of cryptocurrency was nothing short of eventful. As President Donald Trump's tariff announcements continued to influence the market, Bitcoin (BTC/USD) soared to new heights before tumbling slightly. Meanwhile, Ripple (XRP/USD) made headlines with a bold acquisition and a promising forecast.

Here's a closer look at the top stories:

* Bitcoin reached a staggering $82,000 on Thursday, following a short squeeze that liquidated $75 million in bearish bets within an hour. This surge came after President Trump announced a 125% tariff on China while pausing reciprocal tariffs on 75 other countries for 90 days. However, Bitcoin's gains were trimmed as the apex cryptocurrency fell to $79,000.

* Following President Trump's sweeping tariff announcement, the cryptocurrency market cap dropped 2.80% in 24 hours to $2.54 trillion. This came after Trump imposed a 145% duty on Chinese imports and a 10% universal tariff on most other goods. The total cryptocurrency volume for 24 hours is $117 billion, compared to the 24-hour trading volume of the largest exchange, Binance, which is $994,443,166.

* Standard Chartered has forecasted that XRP's market capitalization will surpass Ethereum's by the end of 2028. This bold prediction was made by Geoffrey Kendrick, head of digital assets research at Standard Chartered, who highlighted XRP's growing role in cross-border payments.

* Ripple, the blockchain firm behind XRP, has agreed to acquire prime brokerage firm Hidden Road in a deal valued at $1.25 billion. This acquisition marks Ripple's most significant move yet to expand its offerings for institutional clients, according to CEO Brad Garlinghouse.

* Bitcoin may have become increasingly correlated with stocks amid escalating trade war concerns, but one analyst predicts a deteriorating economic environment will eventually decouple the apex cryptocurrency from the risk-on sector. Michael Terpin, CEO of Transform Ventures, believes the ongoing tariff wars could trigger a recession, disrupting supply chains and causing job losses.output: The past week in the world of cryptocurrency was eventful, to say the least. As President Donald Trump's tariff announcements continued to influence the market, Bitcoin (BTC/USD) soared to new heights before tumbling slightly. Meanwhile, Ripple (XRP/USD) made headlines with a bold acquisition and a promising forecast.

Here's a recap of the top stories:

Bitcoin reached a staggering $82,000 on Thursday, following a short squeeze that liquidated $75 million in bearish bets within an hour. This surge came after President Trump announced a 125% tariff on China while pausing reciprocal tariffs on 75 other countries for 90 days. However, Bitcoin's gains were trimmed as the apex cryptocurrency fell to $79,000.

Following President Trump's sweeping tariff announcement, the cryptocurrency market cap dropped 2.80% in 24 hours to $2.54 trillion. This came after Trump imposed a 145% duty on Chinese imports and a 10% universal tariff on most other goods. The total cryptocurrency volume for 24 hours is $117 billion, compared to the 24-hour trading volume of the largest exchange, Binance, which is $994,443,166.

Standard Chartered has forecasted that XRP's market capitalization will surpass Ethereum's by the end of 2028. This bold prediction was made by Geoffrey Kendrick, head of digital assets research at Standard Chartered, who highlighted XRP's growing role in cross-border payments.

"We see demand for XRP-based products and services continuing to grow, potentially leading to XRP's market cap overtaking Ethereum's by 2028," stated Kendrick in a recent interview with Bloomberg.

According to the latest data from CoinGecko, XRP's current market cap stands at approximately $37 billion, while Ethereum's market cap is around $144 billion.

In other news, Ripple has agreed to acquire prime brokerage firm Hidden Road in a deal valued at $1.25 billion. This acquisition marks Ripple's most significant move yet to expand its offerings for institutional clients, according to CEO Brad Garlinghouse.

"This is a transformational acquisition that will bring together two leading firms in their respective domains, to create a global financial technology powerhouse for the digital asset age," said Garlinghouse.

Bitcoin may have become increasingly correlated with stocks amid escalating trade war concerns, but one analyst predicts a deteriorating economic environment will eventually decouple the apex cryptocurrency from the risk-on sector.

"I think in the unfolding economic crisis, we'll see Bitcoin decouple from stocks as the correlation largely broke down in the past few months