Bitcoin is back on a positive trend after hitting $101,000 amid global economic developments.
Bitcoin Rises to $101k, Trading Volumes Soar
Bitcoin saw a significant surge with trading volumes increasing sharply.
Price hits $101k: Bitcoin experiences a rapid rise fueled by increasing demand from global investors.
Trading volume hits $113 billion: Bitcoin trading activity saw a huge spike, indicating high interest from the market.
US, Mexico, Canada Agree to Delay Trump Tariffs
Quoting Reuters, Trump postponed tariff policies for Mexico and Canada. The postponement of this tariff policy is a major factor in the movement of the crypto market.
Reduced economic uncertainty: The deal helped ease trade tensions, giving a boost to risk assets like Bitcoin.
Increased investor confidence: This decision created positive sentiment in the market, causing Bitcoin to rise again as a hedge asset.
Global Stocks Drop, S&P 500 Drops 1.5%
On the other hand, the stock market is under pressure due to global economic uncertainty.
S&P 500 down 1.5%: Major stocks decline, indicating a shift in liquidity to digital assets.
Investors seek alternatives: Uncertainty in the stock market makes Bitcoin an attractive option for investors.