The main point in today's space is that it is currently driven by "events," with various events influencing data, which in turn affects U.S. monetary policy and the trends in the risk markets.
For example, increasing tariffs by 25% on Europe should have nothing to do with Bitcoin, but the European tariffs are aimed at counterbalancing support for Ukraine. The end of the Russia-Ukraine war could offset U.S. inflation and provide support for lowering tariffs on Canada and Mexico, which could support liquidity and indirectly affect investor sentiment and willingness to invest.
Events often have a strong element of uncertainty, so in the short term, they can disrupt trends. However, the larger trend is inevitably shifting from monetary tightening to monetary easing. It is merely the case that events influence the timing of the process, but they are unlikely to change the outcome.
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