BTC up 1% ahead of Trump’s “Liberation Day” Judgement
BTC up 1% ahead of Trump’s “Liberation Day” JudgementBy Manoj Dharra
Bitcoin’s price recently surged to around $84,900, reflecting a gain of more than 1% over the past 24 hours. Major cryptocurrencies saw an uptick on Wednesday, boosted by a rise in investor sentiment following expectations that the tariffs imposed by U.S. President Donald Trump on his “Liberation Day” would be less severe than initially anticipated. However, analysts remain cautious about the potential impact of a trade war on the markets.
The spike in crypto prices suggests that the market is shifting toward a more bullish stance, with many anticipating a smaller-than-expected effect from the tariff announcements. Still, some believe that many investors are waiting on the sidelines for more clarity on how Trump’s tariffs will ultimately affect the market.
Market participants are wary that risk assets like cryptocurrencies could take a hit if the tariffs strengthen the dollar or slow global growth. Investor optimism has grown with the belief that the tariffs may be more targeted, excluding certain countries and avoiding blanket levies on specific goods.
Bitcoin’s recent rise comes as stocks and other risk-on assets have been fluctuating in recent weeks, with investors concerned about Trump’s unpredictable tariff declarations. Trump is set to announce the tariffs with immediate effect during a Rose Garden ceremony at the White House later today. While he has downplayed any immediate concerns, the overall market remains cautious, as the long-term effects of the tariffs will depend on their final scope and implementation.
Ethereum was changing hands at $1862, while the global crypto market cap is $2.7T, a 0.51% increase over the last day.
Most of the altcoins like XRP, BNB, SOL, LINK and DOT are charting in red today ahead of the Trump Tariff announcement.
The only token seeing gains today is Crypto.com’s native token, CRO, which has risen by 8%. This boost comes after CRO announced a partnership with Sony Electronics Singapore to enable direct crypto payments on their online store, coupled with the SEC closing its investigation into Crypto.com without pressing any charges.
In other news, VanEck has filed for the first-ever Binance Coin (BNB) ETF in the U.S. XRP’s price is gaining positive momentum, with analysts predicting a potential surge if the U.S. stablecoin bill supports RLUSD. If that happens, XRP could climb to $10, making April a pivotal month for investors.
Stablecoin giant Circle has also filed for an IPO, and if approved, the company’s stock will trade on the New York Stock Exchange under the ticker symbol “CRCL.”
Additionally, Grayscale has filed an S-3 for its Digital Large Cap ETF, which will hold a diverse mix of cryptocurrencies, including altcoins like ETH, SOL, ADA, and XRP.
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