Recent attention among investors has been drawn to a potential trade agreement between the US and India, alongside fluctuations in the Bitcoin market. How will this affect the economies of both countries and the crypto market?
US-India Trade Concessions
According to CNBC-TV18, the US and India are negotiating an agreement that may involve partial exemptions for Indian goods from 26% reciprocal tariffs. It is expected that imports from India will face a 10% tax, while certain product lines may incur zero duties. Possible exceptions may extend to Apple's manufacturing operations in India.
Bitcoin Market Updates
Bitcoin's price surged past $104,000 following news of a potential trade pause between the US and China, driven by improved market sentiment. Currently, BTC USD trades around $109,076. Data from Glassnode indicates that over 420,000 BTC have a cost basis of about $94,000, suggesting significant institutional accumulation.
Future of Altcoins After Recent Shifts
Speculations about a potential altcoin season have emerged, but leading altcoins like Ethereum and XRP are trending downward. Analysts, including Michael van de Poppe, note the possible impact of tariffs on the market, yet they believe that market corrections provide buying opportunities for both Bitcoin and altcoins.
Negotiations about the US-India trade agreement may significantly influence the economies of both countries and movements in the cryptocurrency market. Investors are closely monitoring the situation, hoping for new opportunities.
