The overall crypto market skyrocketed after now former President Trump signed the first cryptocurrency bill into law on April 10, 2025. This historically significant ruling created waves of optimism and excitement among investors and traders forward. Bitcoin (BTC) led the charge, surging by 5% to reach $72,500 by 10:30 AM EST. This legislative achievement energized trading activity and created bullish sentiment throughout the broad digital asset sector.
In less than an hour, trading volumes for Bitcoin on Coinbase soared to 25,000 BTC, a sure sign of investor interest being piqued. This bill, if passed, would mark a significant milestone for the cryptocurrency industry. It might accelerate the technology’s adoption and regulators’ understanding!
Ethereum (ETH), the second largest cryptocurrency by market cap, has made impressive gains, increasing by 4.5% to $3,800. Futures trading volumes for Ethereum on Binance soared to 150,000 ETH, showing a high rate of market participation. The Moving Average Convergence Divergence (MACD) for Ethereum showed a bullish crossover at 10:45 AM EST, further reinforcing the positive sentiment.
The correlation of AI tokens with all other major cryptocurrencies including Bitcoin and Ethereum is still positive. Historical data shows that AGIX/BTC has a Pearson correlation coefficient of 0.65. FET/ETH had the third strongest relationship, with a Pearson correlation coefficient of 0.60.
Other indicators created an even stronger bullish picture. The growth of the number of active Bitcoin addresses jumped 10% hitting a new high of 1.2 million. The Relative Strength Index (RSI) for Bitcoin reached 70 at 11:00 AM EST, suggesting overbought conditions. Persistent buying pressure showed the bullish market wasn’t done yet.
On Kraken, the BTC/USD pair exploded with a 30% volume spike only in the first hour following the announcement. Additionally, it just passed a remarkable 10,000 BTC in total volume traded. This booming activity emphasizes the short-term effects of the legislative development on trading platforms.
