Major Cryptocurrencies Rally Across the Board Following President Trump's Announcement of a Trade Deal with the United Kingdom

Major cryptocurrencies rallied across the board following President Trump's announcement of a trade deal with the United Kingdom.

President Trump's announcement of a trade deal with the United Kingdom sparked a rally in major cryptocurrencies across the board.

Trader Ben Martinez took to X (formerly Twitter) to highlight key price levels and support/resistance zones for Bitcoin. Martinez flagged a major resistance at $101,673, with 81,910 BTC held at that level. In another X post, Martinez confirmed that Ethereum has broken past prior resistance at $1,860, where over 4.5 million wallets held ETH.

"Now we can expect some good moves from ETH as we're past a psychological and useful level in my opinion," Martinez stated.

CryptoQuant analysts have pointed out that Ethereum is deeply undervalued compared to Bitcoin—a signal that is usually bullish for the altcoin. However, the analysts also caution that there is still a lot of supply pressure on the coin, demand remains weak, and activity is flat, which may hamper the rebound.

Trader Mags made a bold prediction for XRP, saying that it could hit $2.80 as it is showing favorable structure.

And in other trader updates, CW predicts that Solana could spike to $270 if it breaks through the sell wall at $270. Trader Tardigrade has pointed out a breakout in Dogecoin's RSI, and says that its uptrend is "programmed."

A Texas bill to create a Strategic Bitcoin Reserve passed a key House committee vote on Wednesday and will now head to a floor vote. The bill, HB 34, is an initiative by State Representative Steve McCambly, aiming to establish a state-level bitcoin reserve similar to how the U.S. holds gold in Fort Knox.

The bill, which was approved by the House Appropriations Committee, also includes provisions to regulate cryptocurrency exchanges and create a state-level task force to monitor and advise on cryptocurrency matters.

"This legislation is a significant step forward for Texas and the future of finance," McCambly stated in a press release. "As the leading energy-producing state, Texas is uniquely positioned to capitalize on the benefits of bitcoin, which align perfectly with our state's strengths and economic priorities."

The bill's passage comes amid growing interest in bitcoin and other digital assets at the state level. Earlier this year, Arizona governor Mark Duong established a Bitcoin and Digital Assets Reserve Fund using unclaimed digital property.

Furthermore, New Hampshire became the first state to amend its law to explicitly authorize public funds to invest in bitcoin and other approved digital assets following an amendment to a bill during the final hours of the legislative session.