Bitcoin showed a good increase early Monday, with a peak of $87,280 this morning (21st), reaching the highest point since early April. What economic trends should we pay attention to this week?
After experiencing fluctuations, U.S. stocks closed lower across the board this week, indicating that the market remains fragile amid trade tensions. Although some investors believe that the worst of the global trade war may be over as President Trump has paused reciprocal tariffs and seeks to reach agreements with various countries within 90 days, the market still faces multiple tests this week.
Key points to watch this week:
U.S. stock earnings season is in full swing:
The seven major U.S. stocks will be led by Tesla (expected to announce earnings early Wednesday Taipei time) and Google's parent company Alphabet (expected to announce earnings early Friday Taipei time). During the same period, heavyweight companies such as Boeing, IBM, Intel, P&G, and Merck will also release earnings reports. The performance and outlook of these giants will directly affect market sentiment and the performance of related supply chains.
U.S. trade negotiations with Japan, South Korea, and India:
Japan: The finance minister is expected to hold the second round of negotiations with U.S. officials (Treasury Secretary Yellen, Commerce Secretary Raimondo, Trade Representative Tai) on the 24th. The Japanese side may propose to expand the purchase of U.S. agricultural products (rice, soybeans) and energy, as well as relax U.S. automobile import inspection regulations, hoping to eliminate the 24% reciprocal tariffs and exemptions on steel, aluminum, and automobiles.
South Korea: Acting Deputy Prime Minister Choi Sang-mok and Minister of Trade, Industry and Energy Ahn Duk-geun will meet with U.S. officials in Washington from the 24th to the 25th, expected to discuss reducing non-tariff barriers to ensure that automobiles and semiconductors are exempt from tariffs.
Vice President Harris visits India: U.S. Vice President Harris will visit India this week, and her talks with Indian Prime Minister Modi, as well as the progress of U.S.-India trade negotiations, will be focal points to watch. The Indian side is eager to reach an agreement to avoid tariff impacts.
Geopolitical risk: Originally, Russian President Putin announced on Saturday that the Ukraine war would enter an Easter truce, with all military actions to stop from 6 PM Moscow time on Saturday until midnight Sunday. However, both sides still accuse each other of launching attacks, and the conflict continues.
Bitcoin breaks through $87,000
Returning to the cryptocurrency market, Bitcoin broke through the pressure level from last week after a narrow fluctuation between $84,000 and $85,000 over the recently concluded weekend, reaching a peak of $87,280 this morning (21st), the highest point since early April.
Due to the current low liquidity in the market and the lack of particularly positive news, it may be related to the short-term rapid rise driven by short sellers' liquidations and the earlier drop of the U.S. dollar index DXY below 99 (the first time since April 2022). Whether Bitcoin can continue to strengthen remains to be seen.
According to Coinglass data, the total liquidation amount across the network in the past 24 hours reached $220 million, with over 120,000 people liquidated.
Among other top ten tokens, Ethereum has also simultaneously broken through $1,600, XRP has returned to $2… The best performer over the past seven days is SOL, which has risen 7.55%.
