$BTC Surges to Nearly $64K, Adding to Gains as RFK Jr. Endorses Trump

Sluggish crypto prices received a double boost on Friday. First, U.S. Federal Reserve Chairman Jerome Powell confirmed that a monetary easing cycle would begin next month. Second, crypto-friendly Robert F. Kennedy Jr. (RFK Jr.) publicly endorsed GOP standard-bearer Donald Trump in the presidential campaign. As a result, Bitcoin (BTC) rose by 5.6% over the past 24 hours, trading at $63,800 at press time. Other tokens also posted gains, with the broader CoinDesk 20 Index up 4.7% during the same time frame. Notably, Ether (ETH), Tezos (XTX), and Solana (SOL) were among the tokens showing 5% or more gains. Despite Kennedy's exit from the race, the presidential contest remains evenly matched. However, the removal of Kennedy's name from the ballot in key "battleground" states is expected to benefit the GOP candidate. Both Trump and Kennedy have expressed friendlier attitudes toward Bitcoin and crypto compared to the Biden administration. Trump has even proposed creating a Bitcoin strategic reserve and replacing the SEC chief, Gary Gensler. Meanwhile, the Harris campaign has signaled support for crypto industry growth.