A series of bearish events have caused a red tide in digital assets, with most cryptocurrencies in market capitalizations exceeding 10%.
As reported by Cryptootics, one of the main events that caused this bearish was The US President unleashes tariff war by Donald Trump. The president has announced a 25% tax on imports from Mexico and Canada, and a 20% for China’s acquisition. He further said he would not rule out tariffs on some European Union products.
Seeing the impact on financial markets, including digital assets, Trump maintained dialogue with Mexican and Canadian authorities and postponed the measure until April 2nd.
Another issue that caused disappointment in the cryptocurrency market was an executive order that Republican leaders signed to create a strategic Bitcoin reserve. That’s a historical fact, The news was far from promoting optimism Among investors.
This is because the solution establishes that reservations consist of other digital assets seized by the federal government “as part of the process of forfeiture of criminal or private assets” without clarifying what Bitcoin (BTC) and other methods use to accumulate more Bitcoin.
This will be added to the Cryptocurrency Summit, held at the White House on Friday, March 7th. Did not leave any important regulatory ads for Altcoinshas increased market uncertainty
In this connection, BTC has accumulated a decline of over 10%, and at the time of writing, the price is $82,600.
Resist the market, but don’t lose sight of the fact that BTC and cryptocurrency are about to face High volatility for a week.
The US Consumer Price Index (CPI) will be released next Wednesday, March 12th. Whatever the number is, it triggers a movement of BTC’s contribution.
Main financial inflation was 3% per year in January, 0.1% higher than forecast
For February, the market forecasts CPI to be 2.9% per year. This means a 0.1% drop
Inflation facts are important as they are one of the indicators used by the Federal Reserve. To define interest rate reductions.
As explained in the Education section of Cryptocurrency, high interest rates and increased debt costs reduce system liquidity, resulting in investors being sheltered in treasured debt.
Otherwise, if there is a rate reduction, it will increase A desire to get risky assets such as BTC and cryptocurrency.
The Fed’s next meeting to determine the likelihood of interest trimming is March 19th. Currently in the range of 4.25%-4.50%.
(tagstotranslate)bitcoin(btc)
