The recent announcement by U.S. President Donald Trump regarding a sweeping trade deal with the European Union could significantly impact global markets and cryptocurrencies.
Details of the Trade Deal
The deal includes a 15% tariff on EU imports such as cars and semiconductors, a commitment of $750 billion in energy from the EU to the U.S., and an additional $600 billion in investments into the American economy.
Bitcoin's Reaction
Despite the historic scale of the deal, Bitcoin's price has remained almost unchanged at $118,935, with a slight increase of only 0.66% in 24 hours. However, many experts believe this deal could lay the groundwork for more optimistic market sentiments.
Altcoins Status
Typically, altcoins follow Bitcoin's trajectory, and this time is no different. Some altcoins like Ethereum and Solana have shown modest daily gains while others like Dogecoin and XRP continue to struggle.
The trade deal between the U.S. and the EU removes one of the many uncertainties on the global stage, which could lead to a more confident response from the cryptocurrency market in the future.
