Bitcoin (BTC) rose more than 1.5% on Saturday to $84,900, considering breaking the downtrend for three months after the Trump administration issued new guidance on mutual tariffs, listing several exemptions, including smartphones, computers, chips and other electronics.
These exclusions issued by US Customs and Border Protection list the products from President Donald Trump’s 125% China rate and his baseline 10% global collection.
“The US imports over $600 billion in smartphones per year. These exemptions cover some of the most important imports in another US indication that are recognized in the trade war. After all, the bond market is forced by Trump.
The US and China raised trade tensions this week, imposing import duties above 100% on each other. Still, some sections of the financial markets suggest that the Fed may be able to quickly cut interest rates, despite the high prices of layoffs in the US and, contrary to the general fear of inflation.
The chart shows BTC is about to establish footing above the downward trend line, characterising a sudden sale from a record high of over $109,000. A breakout in the so-called trendline could attract more chart-driven buyers to the market.
Meanwhile, major alternative cryptocurrencies such as ETH, XRP and ADA surged 6% that day, indicating a trend toward increased risk taking in the broader crypto market. The cumulative market capitalization of the top two stub coins, USDT and USDC, has remained stable at over $200 billion, just shy of record highs.
This positive momentum in the crypto market, which was opened for trading over the weekend, suggests a possible price rise on Wall Street on Monday.