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After reaching a peak of fear surrounding tariffs, Bitcoin 
$103,039‘s price has begun to rise. In the world of cryptocurrencies, fluctuations often create a sense of perpetual movement for traders. However, at some point, the tides always turn, favoring either the bulls or the bears.
Why Are Cryptocurrencies Rising?
While major shifts in altcoins are yet to be seen, the recovery in BTC prices lays the groundwork for larger increases across the cryptocurrency market. Despite the opening of the U.S. markets, many altcoins have continued their journey with over a 3% increase.
The primary reason behind the market’s rise is the transition from a debate atmosphere regarding tariffs to a negotiation environment. The U.S. is engaging in discussions with several countries, and Trump currently cannot persuade Powell to lower interest rates during this transition period. This indicates a need for alternative plans to avoid significant economic fallout from the election results.
If the Fed does not lower rates and there is a long wait until the June meeting, which follows signals of no cuts in May, Trump may have to sign alternative agreements that yield “less gain” with trade partners to prevent irreparable damage to the economy during this period.
Bitcoin (BTC)
After continuous declines and easy short-selling opportunities at the peak, it was necessary for BTC prices to rise. And indeed, they have. The key factor now is whether the $88,500 level can be maintained as support and whether the movement can continue towards $92,000. If the upward trend fails to persist, bears will continue to profit from short-selling opportunities from another peak.
In the opposite scenario of continued growth, a closure of the $7 billion short position at $90,000 could spark further momentum in cryptocurrencies. It would be surprising not to see a longer respite after the halving, even if a temporary reversal of the long-standing nightmare occurs over the next few weeks. Traders must remain prepared for potential speculative surges in altcoins.
On the downside, Trump still holds the potential to disrupt everything once again.
