With the positive response to the signs that the Trump administration has a more moderate stance on mutual customs tariffs and gaining confidence from strong US economic data Bitcoin And other large crypto currencies rose on Monday.
Bitcoin exceeded $ 87,000 as Trump’s tariff concerns decreased
Bitcoin (BTC) increased by 3.29 %and traded at $ 87,300 and reached its highest level since March 7. Ethereum (ETH) also gained 3.2 %and exceeded the $ 2,000 threshold and traded for $ 2,079.
Other major crypto currencies have also made strong gains:
- XRRA (XP): + any of 2.46 costumes 2.46 packses are loaded on 2.46 pives.
- Solana (left): rose to $ 138 with an increase of +5.6
- GMCI 30 Index: +3%, follows the top 30 crypto currencies
Markets recovered with the decrease in the fears of trade war
According to Bloomberg, Ralli took place with the digestion of the latest signals from the White House, which seems to be adopting a more “targeted yeri approach instead of extensive implementation of the tariffs recommended by Trump.
The softened attitude of the administration provided support to risk assets, including crypto currencies and stocks, alleviated a total trade war fears.
Vincent Liu, Chief Investment Officer of Kronos Research, said, “Investors, Trump’s more collaborative attitude towards the tariffs of customs that will come into force on April 2, and the Federal Reserve’s focus on long -term inflation trends, crypto markets are rising.”
Economic data increases investor confidence
The latest economic indicators also gave confidence to investors that it remains the durability of the US economy despite concerns about customs tariffs. The prominent data are as follows:
- US Unemployment Applications: He pointed out that the employment market is maintained by rising to 223,000 with a slight increase of 2,000.
- February Inflation Data: Consumer Price Index (CPI) showed that inflation decreased to 2.8 %and became a positive sign for federal reserve policy expectations.
*It is not an investment advice.
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Source: https://www.bitcoinsistemi.com/bitcoin-ve-diger-buyuk-kripto-para-birimleri-abdden-gelen-ekonomik-verilerden-sonra-yukselise-gecti-iste-detaylar/
