Amid changes in Trump tariff plans, the crypto market and stocks showed positive dynamics.
Bitcoin and Solana Lead the Charge
Bitcoin rose 2.7% to trade around $86,500, while Solana gained nearly 6% to reach $138. XRP also increased by 2.5% to $2.44, surpassing the 50-day moving average. This rise corresponds to a 0.5% increase in S&P 500 and Nasdaq futures, while the VIX index fell by 2.5%.
Trump’s Tariffs: A Softer Approach?
Earlier concerns over Trump's tariffs led to price declines in markets, including a 17.6% drop in Bitcoin in February. However, recent reports offer hope that tariffs will be more targeted than previously expected, with some countries possibly exempt. This has influenced investor confidence and improved market sentiment.
Federal Reserve and Market Outlook
The Federal Reserve updated its outlook, raising inflation expectations but maintaining plans for two rate cuts this year. They also stated that tariffs would not cause long-term inflation. This boosted confidence in riskier assets like Bitcoin. Prominent figure Arthur Hayes believes Bitcoin may reach $110,000 despite inflation concerns.
With easing tariff concerns and the Federal Reserve's supportive stance, the crypto market has strengthened, hinting at possible further growth.
