Bitcoin Price Surges Amid Optimism Over US Economy

The Bitcoin price has seen a significant increase following US President Donald Trump's State of the Union address. In his nearly two-hour speech to Congress, Trump highlighted the country's 'roaring' economy, citing record-breaking stock market highs and substantial investments in the US economy.

While Trump did not directly mention cryptocurrency, his comments on the broader market sent a wave of optimism through crypto markets. According to data from CoinGecko, investors funnelled $52 billion into cryptocurrencies during the speech.

However, despite this surge, analysts remain cautious about the crypto market's prospects for recovery. Regulatory uncertainty and concerns over artificial intelligence's impact on the job market continue to weigh on Bitcoin's price, which is still trading 49% below its October peak of $126,000.