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Bitcoin (BTC) 
$105,527 price stood at $79,000 at the time of writing, with altcoins recovering some losses compared to the previous day. While a clear rebound remains uncertain, the Bitcoin price’s stability above the $77,000 support and its failure to dip below $74,000 is a positive sign. Furthermore, the opening of the U.S. markets may lead to increased volatility in the cryptocurrency space.
Will Cryptocurrencies Rise?
At the moment, Treasury Secretary Bessent’s statements are noteworthy. The Secretary has been relatively positive regarding negotiations, contrasting sharply with Trump’s earlier stance of “no compromise, no tariff reductions.” Additionally, reports emerged last night about negotiations with around 70 countries for an agreement.
Bessent stated during the writing of this article:
“If tariffs succeed, they will melt like an ice cube. With solid proposals, we can make good deals. As part of the negotiations, some tariffs may remain.”
“Countries that do not escalate tensions will be prioritized for discussions. Increasing tariffs from China would be detrimental for China. Trump is determined to correct trade imbalances.”
On Monday, retaliatory actions against the EU are on the agenda, and all tools, including LNG, are on the table. Trump mentioned that the EU could balance tariffs by purchasing more energy, with LNG sales constituting a significant portion of U.S. exports.
Bessent’s moderate statements lay the groundwork for a potential recovery in cryptocurrencies, and we will discuss reasons why the momentum may accelerate shortly.
Why Will Cryptocurrencies Rise?
Global stocks have rebounded, and with investors focusing on the possibility of U.S. trade negotiations, it appears that the biggest three-day drop since 2020 has come to an end. Why did such a drop occur in 2020? Certainly due to the pandemic. While today’s tremors seem larger than the pandemic, moderate statements bring a quicker recovery possibility to the table.
U.S. stock futures rose by more than 1%, with Nvidia leading the pre-market trades. Apple, after experiencing its worst three-day performance since July 2001 with a 19% drop, rose by 1%. These rapid losses may foster perceptions of “cheap prices” for the magnificent seven and others, potentially creating a new wave of demand, especially with recent White House statements hinting at a market bottom.
As tensions with China continue to rise, Trump remains resolute. Treasury bonds have rebounded from significant losses, and long-term interest rates reached their highest levels since March 2020. Meanwhile, oil prices have remained stable.
