The cryptocurrency market continues to gain strength as stock indices show growth. Bitcoin and Ethereum have reached historic heights, while economic indicators reveal signs of consumer confidence.
Increase in Consumer Confidence and Inflation
Consumer confidence surged to a four-month high, leading to improved inflation expectations. Meanwhile, the Personal Consumption Expenditures (PCE) price index slightly exceeded forecasts, allowing the Federal Reserve to consider rate cuts in the coming months.
Progress in Trade Deals
With the July 9 deadline approaching, trade negotiations have intensified. India's trade team remains in Washington to resolve differences. European Commission President Ursula von der Leyen expressed confidence that an agreement can be reached by the deadline while China confirmed details of a trade framework agreement with the U.S.
Cryptocurrency Market: Bitcoin and Ethereum on the Rise
Cryptocurrencies are showing broad growth, with Bitcoin climbing back to $108,000 and Ethereum surpassing $2,500. Ripple accepted a $125 million fine and is moving forward. XRP's price has increased over 10% in the past seven days.
The themes of rising consumer confidence and active trade negotiations create a positive economic backdrop, fostering further development in both stock and cryptocurrency markets.
