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The price of Bitcoin 
$107,467 surpassed $101,500 at the time this article was prepared, signaling positive developments in the market. Although there was a brief dip following the Producer Price Index exceeding expectations in the U.S., Trump’s statements shifted the dynamics. Now, let’s swiftly look into significant last-minute events concerning the European Central Bank (ECB).
Trump’s Enthusiasm for Cryptocurrency
According to a recent report by Bloomberg, Donald Trump stated he would achieve great things for cryptocurrencies. Earlier this week, Eric Trump provided vital insights regarding his father during a cryptocurrency event in the UAE. Eric hinted at Donald’s substantial interest in cryptocurrencies and criticized the current financial system, suggesting signals of what awaits in 2025.
“I have a good relationship with China. We are discussing things with Xi. We will achieve great results with cryptocurrency.”
Following Eric Trump’s comments and Donald declaring “great things” for cryptocurrencies, the price of BTC rose. The inauguration on January 20 is eagerly anticipated, coinciding with SEC Chairman Gensler’s departure and Biden transferring power to Trump. Additionally, Trump has chosen notably crypto-friendly individuals for both the Commerce and Treasury Secretaries, indicating an exciting year ahead since the election results were announced.
Developments at the European Central Bank
On the other side, significant movements are occurring at the European Central Bank. Key points include:
- Investors have reduced forecasts for the ECB’s monetary easing, expecting less than 125bps cuts in 2025.
- The ECB predicts inflation will decline to 2% in Q4 of 2025.
- ECB President Lagarde mentioned discussions about a 50 basis point adjustment, with downside risks to growth.
- ECB lowered interest rates to 3%.
- The ECB anticipates that most core inflation measures will stabilize around its 2% medium-term target.
