A sweeping policy change from Washington sent cryptocurrency prices soaring Friday, with Bitcoin smashing through $117,000 for the first time in months.
The rally comes after President Donald Trump signed an executive order allowing U.S. retirement funds to invest directly in digital assets and private equity. The move has been hailed by crypto advocates as a historic shift in how mainstream investors can access the sector — and markets wasted no time reacting.
Bitcoin Rockets Past $117K, Market Cap Nears $3.9 Trillion
Bitcoin climbed more than 4.8% in early trading to $117,500, up from this month’s low of $112,000. The surge helped push the total market capitalization of all cryptocurrencies to roughly $3.87 trillion, according to CoinGecko data.
Ethereum, Solana, and several mid-cap tokens also posted sharp gains, but Bitcoin took center stage, cementing its role as the market’s barometer. Some traders are now openly speculating about a return to all-time highs before year-end.
“It’s like a green light for institutional adoption,” said a senior trader at a New York hedge fund, noting that U.S. retirement accounts collectively manage more than $39 trillion. “If even a sliver flows into crypto, the numbers get mind-boggling.”
And it wasn’t just the big caps moving. A handful of smaller coins saw staggering percentage jumps as speculative money poured back in.
Bitcoin Penguins Presale Hits $2.16 Million
One of the day’s most talked-about names isn’t even on an exchange yet. Bitcoin Penguins (BPENGU) — a blend of Bitcoin’s branding and the internet’s fondness for penguins — has pulled in over $2.16 million in its presale just a week after launch.
Its pitch is simple: mix the perceived stability of Bitcoin with the viral charm of Pudgy Penguins, one of the first animal-themed crypto collectibles to break into mainstream culture.
Developers say the listing price will be nearly 80% higher than the presale rate, sparking a flurry of early buyers looking for a quick upside. Some backers are throwing around extreme forecasts, claiming the coin could multiply 1,000-fold by November.
Skeptics warn those numbers sound more like marketing than math. But in a bull market, hype often has a way of making prices behave strangely.
Mantle Breaks Resistance on Network Boom
Mantle’s MNT token shot to $1.1035, marking its highest level since February and nearly doubling from June lows. Technical charts show the coin punching through key resistance at $0.8471, effectively killing off a bearish double-top pattern.
Momentum hasn’t just come from chart watchers. On-chain analytics firm Nansen reported:
Transactions on Mantle’s network jumped 114% in the past 30 days.
Active wallet addresses surged 202%, hitting 282,853.
A promotional airdrop on exchange Bybit is adding fuel, letting users claim tokens through next Wednesday. Analysts say the setup looks bullish in the short term, though some expect a retest of the $0.8470 support before any further climb.
Pendle Rallies as Locked Value Climbs
Pendle (PENDLE) joined the list of top performers after its total value locked (TVL) spiked to $7.73 billion — up 56% in just a month.
The token broke above $5 for the first time since late spring, shattering resistance at $4.7195 and confirming a breakout from an ascending triangle pattern. Traders eye $5.56 as the next upside target, citing a previous swing high from June 3.
Here’s a quick snapshot of the day’s leaders:
| Token | Price | 24h Change | Notable Catalyst |
|---|---|---|---|
| Bitcoin | $117,500 | +4.8% | Trump’s retirement fund order |
| BPENGU | Presale | N/A | Meme + Bitcoin branding hype |
| Mantle (MNT) | $1.1035 | +98% (MoM) | Network growth + airdrop |
| Pendle | $5.02 | +12% | TVL surge to $7.73B |
Trump’s executive order could mark the first significant U.S. policy shift enabling retirement plans — like 401(k)s — to directly hold crypto and private equity assets.
Some analysts say the move could accelerate Bitcoin ETF inflows, as many retirement funds are bound by strict investment rules. Others see it as a long-term bullish driver for tokenized private markets, which have struggled for mainstream acceptance.
One caveat: regulatory battles aren’t over. The Department of Labor under previous administrations had raised red flags about crypto in retirement accounts, citing volatility and fraud risks. But with the White House now leaning in the opposite direction, the legal landscape could shift dramatically in the months ahead.
For now, markets are celebrating. Whether this rally sticks may depend less on political headlines — and more on whether institutional money actually shows up with real, sustained buying.
