Bitcoin at 7-week high thanks to Trump's easing of tariff stance
- Bitcoin $BTCUSD gained 3.1% to $93,000, the highest since early March.
- Investors were reassured by Trump's announcement of easing trade tariffs against China.
- The fact that Trump backed off from pressuring Fed chief Powell also triggered a positive reaction.
- The improving macroeconomic climate is supporting the growth of risk assets, including cryptocurrencies.
I am quite happy that the development is now stable and the price is going up. We'll see if it holds.
What is very interesting is that Bitcoin is apparently no longer reacting to the current correction and is not falling like technology stocks.
The situation is really precarious, and the Powell thing surprised me. Trump says something one day and the next day it's the other way around.