Bitcoin surges above $117k as Trump's 401(k) order sparks altcoin rally

This bullish momentum comes on the heels of US President Donald Trump signing an executive order to expand 401(k) access to alternative assets, aiming to improve returns and diversification

The cryptocurrency market is showing renewed strength as Bitcoin (BTC) surged back above the $117,000 level, sparking significant rallies in major altcoins such as Ethereum (ETH), Ripple (XRP), and Solana (SOL), which gained up to 11 per cent. 

 

This bullish momentum comes on the heels of US President Donald Trump signing an executive order to expand 401(k) (employer-sponsored retirement savings plan) access to alternative assets, aiming to improve returns and diversification. 

 

By directing regulators to clarify investment guidelines, the order is poised to unlock the massive $8.9 trillion retirement savings market to cryptocurrencies—a development that analysts believe is fueling fresh optimism and institutional interest in the crypto space.

 

Bitcoin price today

Though the move pushed Bitcoin over $117,600 for a while, the flagship currency has since slipped below the $117,000 mark due to profit booking at higher levels. At the last check, Bitcoin was trading around $116,659.59, up 1.82 per cent, with a 24-hour trading volume of $66.45 billion, according to CoinMarketCap.

 

Bitcoin has fluctuated between $114,545.02 and $117,689.20 in the last 24 hours. BTC is currently trading 5.2 per cent lower from its all time high of $123,091 scaled on July 14 this year. 

Analysts weigh in

Fresh buying, Edul Patel, Co-founder and CEO of Mudrex, said, was largely driven by Trump’s order allowing 401(k) plans to diversify into digital assets. "This opens the $8.9 trillion market to crypto, bringing in significant inflows and supporting ongoing institutional adoption."

 

Echoing similar views, Vikram Subburaj, CEO of Giottus, said that Trump’s order to include crypto in 401(k) retirement plans in the U.S. adds legitimacy to the asset class and provides additional long-term buying power. "Along with improving odds of an interest rate cut next month, this should ensure bullishness for the next couple of weeks," Subburaj added.

 

On the technical front, Patel believes Bitcoin's immediate resistance stands at $118,500, while support has moved above $115,000, allowing room for potential upside. Subburaj, on the other hand, believes Bitcoin must hold above $116,000 for altcoins to outperform, with $120,000 being the next key level for strong trend continuation.

Ethereum outperforms

The bullish sentiments were more apparent among the altcoins, with Ethereum hovering near the crucial resistance zone of $4,000. ETF inflows remain robust, with $222.3 million for ETH, reflecting sustained institutional demand.

 

At the last check, it was trading around $3,917.34, higher by 6.19 per cent, with a 24-hour trading volume of $17.47 billion, according to CoinMarketCap.

 

Meanwhile, Ethereum dominance has crossed 12 per cent for the first time since early 2025, while Bitcoin dominance has slipped to 60 per cent. According to Riya Sehgal, Research Analyst at Delta Exchange, this indicates capital rotation into ETH and select altcoins like XRP, LINK, and SUI. "This shift in market structure suggests altcoin strength could persist in the short term, with potential for a broader consolidation phase before the next leg higher," said Sehgal.

 

Further, among other popular cryptocurrencies, Ripple (XRP) gained 11.14 per cent, Hyperliquid (HYPE) was trading higher by 6 per cent, Cardano (ADA) was up 7.59 per cent, Solana (SOL) rose 3.3 per cent, and Binance Coin (BNB) was up 2.42 per cent.