Following Trump’s escalation of tensions, a recurring scenario resembling previous chaos periods is unfolding. There’s a tangible return to a potential agreement phase and a conducive period for the rise of cryptocurrencies. Bitcoin (BTC) 
$78,502 prices have exceeded $115,000, yet the key $117,000 zone remains unreclaimed. What are the expectations, and what’s the current situation?
Rise of Cryptocurrencies
The anticipation of a trade agreement between the US and China has fueled a rise in cryptocurrencies. As previously indicated by Bessent, discussions were ongoing, and with the world preferring stability over chaos, consensus seemed inevitable. Although this presents a lucrative streak for cryptocurrencies, it is far from over.
The Federal Reserve’s recent rate cuts and the upcoming earnings reports from tech giants are bolstering stock markets. The optimism surrounding tech companies mirrors that seen in cryptocurrencies, thereby driving Bitcoin and others upward.
Prior to the US market opening, S&P 500 futures saw a roughly 1% increase. Following a series of agreement announcements by US and Chinese officials ahead of Trump’s meeting with Xi, the developments were unsurprising. Should nothing significant arise on Thursday, Trump and Xi will meet, with pre-meeting agreements being essential due to their limited time for negotiation.
Expectations from the Fed and Cryptocurrencies
As gold and treasury bonds weaken, cryptocurrencies are poised to commence November in a favorable environment. Copper, viewed as a key indicator of economic growth, approaches new all-time high levels. Interestingly, Treasury Secretary Bessent mentioned potential candidates for future Fed chairmanship, including Waller, Warsh, Hassett, Bowman, and Rieder.
The Fed is expected to implement a new rate cut, and Powell is set to leave in May. While inflation remains at reasonable levels according to the latest report, employment figures raise concerns. Thus, if expectations form for over two rate cuts by May, markets could continue to rise throughout the year, anticipating quicker easing post-Powell.
Ethereum (ETH) 
$2,487 remains above $4,100, though many altcoins haven’t sufficiently rallied from their lows. While reclaiming significant support levels is positive, altcoins require more good news to surpass resistances. Amidst this, Russia’s steps towards peace, considering the weight of additional sanctions, could offer extra support for cryptocurrencies.
