🔥A BRIEF RECOVERY OF CRYPTOCURRENCIES WITH ONE EYE ON TRUMP AND ANOTHER ON THE US CPI
Cryptocurrencies are timidly recovering this Wednesday. Bitcoin (BTC) is up 1.7% in the last 24 hours, standing above 82,500 dollars, while Ethereum (ETH) continues to fall and has lost 1,900 dollars.
'Altcoins' are trading with mixed signs. XRP is up 2.9% in the last day, while Solana (SOL), Cardano (ADA), and Dogecoin (DOGE) are also trading higher with increases of up to 3%. Pi (PI) is skyrocketing nearly 20%. On the opposite side, Tron (TRX) is down around 3%.
It is noteworthy that, in the last day, the US Securities and Exchange Commission (SEC) delayed decisions on applications to create exchange-traded funds (ETFs) for XRP, DOGE, and Litecoin (LTC). Previously, Bloomberg analysts estimated a 90% probability for LTC, 75% for DOGE, and 65% for XRP to gain approval before the end of the year. However, the regulator's indecision keeps the market on edge.
Be that as it may, the market’s focus remains on the tariff policy of US President Donald Trump. Yesterday, the president announced that his administration planned to raise the tariffs on imported steel and aluminum from Canada to 50% in response to Ontario's decision to impose a tax on electricity sent to the United States, which has since been suspended.
Trump's trade policy has increased uncertainty in the markets, especially among risk assets, as there are fears it could ultimately lead to a recession in the United States. In this regard, the US bank Goldman Sachs has cut its growth forecasts for the US for 2025 to 1.7% from the previous 2.4%. Goldman’s decision follows that announced by Morgan Stanley last Friday, which reduced its growth forecast for the US this year to 1.5% from the previous 1.9%.
