百币精
--
Trump is considering raising tariffs again? The Federal Reserve is not worried, but Bitcoin is in a panic
Currently, the job market shows signs of slowing down. In February, non-farm payrolls increased by only 151,000, below market expectations, and the unemployment rate unexpectedly rose to 4.1%, reaching a new high since last November. This weak labor market trend further strengthens market expectations for an early interest rate cut by the Federal Reserve.
However, Trump announced that new tariffs may be imposed on Canadian lumber and dairy products in the near future. It is worth noting that just this Thursday, the U.S. granted Canada a one-month tariff exemption, and such frequent policy changes have made the market anxious and have also affected the Federal Reserve's decision-making. Federal Reserve Chairman Powell pointed out that the uncertainty of Trump's policies is high, and the Federal Reserve will patiently wait for the economic situation to become clearer. He emphasized that the current state of the U.S. economy is good, the job market is strong, so there is no urgency to cut interest rates at the moment. However, the market predicts that a rate cut could occur as early as May, with an over 80% chance of a rate cut in June, including a 34% chance of a 50 basis point cut.
Additionally, the White House cryptocurrency summit disappointed the market, failing to bring any positive news, leading to extreme chaos. Bitcoin's price performance has remained weak, with high volatility. Bitcoin briefly surpassed $92,000, causing short positions near that price level to be liquidated. $92,000 is the cost line for short-term holders of Bitcoin and also a key resistance level. Due to weak demand in the short term, Bitcoin struggles to hold that price level, limiting its further rise.
Currently, the job market shows signs of slowing down. In February, non-farm payrolls increased by only 151,000, below market expectations, and the unemployment rate unexpectedly rose to 4.1%, reaching a new high since last November. This weak labor market trend further strengthens market expectations for an early interest rate cut by the Federal Reserve.
However, Trump announced that new tariffs may be imposed on Canadian lumber and dairy products in the near future. It is worth noting that just this Thursday, the U.S. granted Canada a one-month tariff exemption, and such frequent policy changes have made the market anxious and have also affected the Federal Reserve's decision-making. Federal Reserve Chairman Powell pointed out that the uncertainty of Trump's policies is high, and the Federal Reserve will patiently wait for the economic situation to become clearer. He emphasized that the current state of the U.S. economy is good, the job market is strong, so there is no urgency to cut interest rates at the moment. However, the market predicts that a rate cut could occur as early as May, with an over 80% chance of a rate cut in June, including a 34% chance of a 50 basis point cut.
Additionally, the White House cryptocurrency summit disappointed the market, failing to bring any positive news, leading to extreme chaos. Bitcoin's price performance has remained weak, with high volatility. Bitcoin briefly surpassed $92,000, causing short positions near that price level to be liquidated. $92,000 is the cost line for short-term holders of Bitcoin and also a key resistance level. Due to weak demand in the short term, Bitcoin struggles to hold that price level, limiting its further rise.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
0
0