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The cryptocurrency market experienced a notable surge, with Bitcoin 
$94,587 reaching up to $82,990 following Trump’s 90-day tariff pause. However, caution persists among market participants, raising questions about the sustainability of altcoin recoveries. As we move toward May, critical data is anticipated tomorrow, shaping the current outlook for cryptocurrencies.
Tariffs and Cryptocurrency Rise
Chinese tariffs have soared to 125%, potentially leading to further retaliatory measures against the U.S. Despite the rapid increase in tariffs, their relevance is being questioned. Recent statements from Spanish and EU officials hinting at closer ties with China were unexpectedly countered by Trump’s decision to pause tariffs. Trump commented during the article’s preparation, stating:
“I paused because people were overreaching. I reversed tariffs temporarily. Many countries want to come here.”
This may reference billionaires criticizing Spain, the EU, or other negotiation-related issues.
ETH has regained ground above $1,627, but the critical threshold to surpass is $1,820. Observing Trump’s less extreme approach regarding potential agreements with China is reassuring, suggesting that markets will interpret the next moves more moderately.
In the coming hours, we expect to see the effects of fluctuations in Asian markets on cryptocurrencies, which may determine if the bullish trend continues six hours later.
Significant Developments in Cryptocurrencies
Tomorrow, inflation data will be released an hour before the U.S. market opens. The Fed continues to focus on inflation while maintaining a balanced approach even during the most stressful days. The annual inflation expectation is set at 2.5%, down from the previously reported 2.8%, while core inflation is expected to decline from 3.1% to 3%.
If the inflation data aligns with expectations, it could provide support for the markets. However, the safety threshold for BTC remains above $88,500. The current bullish environment, which continues to catch those anticipating declines off guard, may fuel a rally that could benefit short sellers.
We will continue to update you on developments related to tariffs, market data, and other vital information. Remember, the short-term trend of cautious increases can change rapidly.
