#BitcoinSPACDeal Fear recedes and favors the purchase of cryptocurrencies as Bitcoin seeks $117,000
The possible price fixing of Trump's tariff hike is followed by optimistic balances from major technology companies, driving indices associated with Bitcoin.
Fear recedes and favors the purchase of cryptocurrencies as Bitcoin seeks $117,000
News
The cryptocurrency market advanced to a market capitalization of $3.83 trillion (+2.8%) on the morning of this Thursday (7). Bitcoin
BTC
€100,062
was trading around $116,800 (+2.2%) with market dominance retreating to 60.6%, a neutral sentiment from investors (54%) and most major altcoins in the green.
Data from monitoring platforms suggested that markets may have already priced in the start of the validity of additional customs tariffs on various countries the day before, imposed by the President of the United States, Donald Trump, despite the uncertainties permeating the macroeconomy for the coming months.
In the stock market, indices historically associated with Bitcoin's performance, such as the S&P 500 and Nasdaq, advanced and closed at 6,345.06 (+0.73%) and 21,169.42 points (+1.21%) respectively. Among the highlights of this rally, Apple announced at an event in the White House that the iPhone manufacturer will increase its investments in the U.S. by $600 billion over the next four years, which helped to propel the stock of the tech giant by 5.09%.
In another possible bullish catalyst for markets such as cryptocurrencies, Russia announced a meeting, "in the coming days," between Donald Trump and Vladimir Putin. This could pave the way for a ceasefire in the war in Ukraine.
