Shortly
- Bitcoin hovered at around $95,000 throughout the day.
- Ethereum and Solana both fell slightly.
- On Tuesday, the key reports about inflation and employment will be released.
Price of Bitcoin The dollar hovered at $95,000 Monday as investors searched for any signs of progress with trade negotiations, ahead of the key releases of data that will be released this week. These may indicate how U.S. president Donald Trump’s new tariffs on imports and exports affect inflation and economic growth.
Crypto data provider says that the biggest cryptocurrency, measured by its market capitalization, was trading around $94,800 in recent days, an increase of 0.4% over the previous 24 hours. CoinGecko. The majority of altcoins saw slight declines, while Ethereum You can also find out more about the following: Solana The price of $1,800 dropped by 0.5%, and the cost for $149 rose by 1%.
U.S. Treasury Scott Bessent stated in an interview to Fox News on Monday that the Administration is working on “bespoke deals” with 18 the U.S. most important trading partners. He also said that the next step was China.
He said, “We’ll see what China does.” I think that it is not sustainable for China, and maybe one day they will call me.
Trump claimed to have spoken with him last week Several times Xi Jinping has been imposing sweeping duties on almost every country since he announced them earlier this month. Guo Jiakun of the Chinese Foreign Ministry said that at Monday’s press conference, “China is not involved in any negotiation or consultation on tariffs with the U.S.” CNBC.
The macroeconomic impact of the Trump “reciprocal tariffs” could be seen in the data.
The U.S. Bureau of Labor Statistics is expected to report that the number of job openings in March decreased on Tuesday. Trading Economics. A day later, the PCE Price Index of U.S. Bureau of Economic Analysis will likely show a 0.4% rise in monthly inflation.
The crypto market may see more engagement with this week’s data on jobs and inflation, if they show that the threat of Trump’s tariffs isn't making inflation worse or weighing too much on the economy, OTC traders at crypto market maker Wintermute wrote in a Monday report.
Analysts wrote that “With Trump hinting about tariff deescalation, if macro-indicators show taming of inflation and a lack of pronounced economic slowdown then markets may be ready for renewed activity.”
Wall Street saw a slight increase in major indexes. The S&P 500 rose 0.2% while the tech-heavy Nasdaq gained 0.05%, according to Yahoo Finance. The traditional safe-haven of gold rose 1.8% in the meantime to about $3,350/ounce. This is still below its previous peak.
Bitcoins have shown to be a very popular currency. Signs of Decoupling Greg Magadini told Decrypt, the director of Amberdata’s derivatives, that the cryptocurrency market is likely to follow the equities in anticipation of short-term gains. He added that it might be viewed as a hedge to the U.S. Dollar, with its rally on uncertain times.
“Right Now, Crypto has been Trading as Risk-assets,” He Said “I believe this trend is True Short-Term, but Long-term I Expect Bitcoin to Start Trading as Digital Gold.”
James Rubin, Editor
