Recent decisions by Donald Trump to exempt key tech products from tariffs have led to a rise in cryptocurrency prices, including Bitcoin and altcoins.
Bitcoin Leads the Rebound
After dropping to $74,000, Bitcoin has regained traction, crossing the $84,000 mark. Other cryptocurrencies like Ethereum, Solana, and XRP also showed weekly gains of 2-7%. Analysts view this as a sign that the correction phase is nearing its end, though Bitcoin must surpass the $89,000 level for confirmation of further upward movement.
Crypto Market Reacts to Trump's Moves
Trump's decision to reduce tariffs signals his willingness to engage in negotiations with China, instilling hope for market stabilization, including in the crypto sector. Investors are welcoming these changes, as they mitigate fears surrounding the trade war and improve the overall sentiment among traders.
Whale Activity and Global Changes
Behind the scenes, major investors are making significant moves. Over $400 million worth of XRP was transferred last week. Additionally, Japan's new approach to crypto regulations indicates global support for the industry. These factors contribute to a positive backdrop for the recovering crypto market.
Despite challenges, the cryptocurrency market is showing signs of recovery. Analysts suggest that future movements will depend on several factors, including the economic situation in the U.S. and the activities of large investors.
