Trump, breaking news! Crypto Assets, skyrocketing!

The Crypto Assets market surged collectively, with Ethereum rising over 5%. According to news on August 7, Beijing time, U.S. President Trump will sign an executive order on Thursday allowing Crypto Assets to enter 401(K) accounts. Trump's executive order will instruct the Department of Labor to reassess the guidelines for alternative asset investments in retirement plans. As a result of this news, the Crypto Assets market experienced significant fluctuations, with Bitcoin's price breaking through $116,000 per coin, an increase of over 2%.

Ethereum rises over 5%, price breaks through 3800 USD/coin.

Other Crypto Assets also rose, with Solana, Dogecoin, Sui, and others all up over 5%.

Coinglass data shows that in the past 24 hours, over 90,000 people in the Crypto Assets market have been liquidated, with a total liquidation amount of 261 million USD, of which long positions accounted for 63.263 million USD and short positions accounted for 200 million USD.

In addition, U.S. stocks related to Ethereum reserves are performing well in pre-market, with BTCS up over 12%, and both BMNR and SBET up over 7%.

On the news front, U.S. President Trump will sign an executive order on Thursday allowing private equity funds, real estate, crypto assets, and other alternative assets to be included in 401(K) retirement accounts. It is reported that 401(K) is a retirement savings plan offered by many U.S. employers to employees, allowing them to save and invest a portion of their salary in funds before taxes are deducted. Typically, the investment focus of 401(K) is on mutual funds, exchange-traded funds (ETFs), stocks, and bonds. Analysts believe that this executive order will accelerate Trump’s push to bring crypto assets into the mainstream investment market. Prior to this, the Trump administration had rescinded several enforcement actions against large digital asset trading platforms.