The cryptocurrency market is experiencing a recovery following recent declines. This trend is linked to positive news regarding tariffs on Canada and Mexico.
Tariff News and Market Response
President Trump announced that tariffs on Canada and Mexico have been temporarily delayed. This news led to a positive response in the crypto market, with Bitcoin (BTC) rising to $99K and Ethereum (ETH) to $2800.
Bittensor (TAO) Analysis
The AI token Bittensor (TAO) showed a 13% recovery after a correction of more than 50% over the past 60 days. On the daily chart, TAO saw a 200% rally between September and October 2024, moving from $220 to an all-time high of $677. TAO is currently trading around $370 and is moving towards potential resistance at the 25-day SMA.
Market Prospects
Bittensor (TAO) has shown a strong rebound, but further momentum requires overcoming resistance levels. Market conditions and geopolitical events, such as today's conference led by David Sacks, may have a significant impact on further developments.
The cryptocurrency market is showing signs of recovery, but further dynamics depend on global economic and political factors.
