Bitcoin Momentum Stalls Ahead of Busy Macro Week, Potential Trade Deals
Bitcoin's price remained around $95,000, with a slight increase of 0.4% to approximately $94,800. Most altcoins, including Ethereum and Solana, experienced minor losses. U.S. Treasury official Scott Bessent indicated ongoing trade negotiations with 18 key partners, emphasizing that the next move is up to China. Despite Trump's discussions with Xi Jinping, China stated there are no current tariff negotiations. A 90-day pause on tariffs was announced, but economic data may reveal consumer reactions to potential cost increases. Economists predict a decrease in job openings and a 0.4% inflation rise in upcoming reports. The crypto market may respond positively if these indicators suggest manageable inflation and economic stability. Major U.S. stock indices showed slight gains, while gold prices rose to around $3,350 per ounce. Bitcoin is currently viewed as a risk asset but may transition to a hedge against the dollar in the long term.
