Binance News
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Bitcoin and Ethereum prices remain stable as China and the United States temporarily reduce tariffs, causing market volatility
According to BlockBeats, on May 13, QCP released a market observation that China and the United States agreed to temporarily reduce tariffs, causing the U.S. stock market to jump 3% and gold to fall nearly 3%. The strengthening of the U.S. dollar and rising Treasury yields have driven volatility selling pressure across asset classes.
The VIX index fell back to 18, and the front-end volatility of Bitcoin was compressed by more than 5 points. The prices of Bitcoin and Ethereum stabilized at around $103,000 and $2,400 respectively. The market share of Bitcoin fell below 63%, while Ethereum performed well.
Bitcoin is struggling between the identity of "digital gold" and the proxy of risk assets. The change in the macro environment may affect the flow of derivative funds. Ethereum's price breakthrough of $2,400 coincides with the upgrade of Pectra, showing its potential as a major configuration asset.
The VIX index fell back to 18, and the front-end volatility of Bitcoin was compressed by more than 5 points. The prices of Bitcoin and Ethereum stabilized at around $103,000 and $2,400 respectively. The market share of Bitcoin fell below 63%, while Ethereum performed well.
Bitcoin is struggling between the identity of "digital gold" and the proxy of risk assets. The change in the macro environment may affect the flow of derivative funds. Ethereum's price breakthrough of $2,400 coincides with the upgrade of Pectra, showing its potential as a major configuration asset.
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