This week, the crypto market showed signs of recovery, partly due to new regulations and other key events.
U.S. Presidential Order and Opportunities for Investors
The U.S. President signed two orders supporting the cryptocurrency market. One allows over 90 million Americans to invest in Bitcoin through their retirement savings, which could attract liquidity to the market. The second order is aimed at preventing banks from discriminating against cryptocurrency companies, facilitating the free flow of liquidity.
Conclusion of Ripple's Case with SEC
Reports suggest that Ripple and the SEC dropped their legal appeals, marking a potential end to their long-standing legal battle. This development was met positively; XRP price saw a sharp increase, although trading volumes have significantly decreased, indicating a possible decline in overall market interest.
Tariffs on Gold Imports and Market Prospects
The U.S. announced tariffs on imports of gold bars weighing 100 kg and 100 oz. Experts believe this could exert pressure on the gold market and push it to new heights. Moreover, potential declines in gold prices and U.S. plans to purchase Bitcoins could create additional volatility in the crypto market.
These developments highlight various factors contributing to the positive sentiment in the crypto market. Additionally, expected interest rate cuts may lead to new speculation and increased liquidity.
