Crypto money markets experienced a rapid recovery after US President Donald Trump suspended taxes to Canada and Mexico. Bitcoin (BTC) exceeded $ 100,000, while investors’ confidence has increased again. Ethereum (ETH) also recovered and reached $ 2,880.
How did Trump’s tax decision affect the crypto?
Trump suspended taxes for a month to continue commercial negotiations with Canada and Mexico. Canadian Prime Minister Justin Trudeau announced that they will activate a new border plan of $ 1.3 billion. In addition, new measures will be taken to prevent smuggling.
Mexican President Claudia Sheinbaum said that joint work with the US on border security and trade has started. These developments reduced the uncertainty in the markets and relieved investors. The softening of trade wars was positively reflected in the crypto markets.
Bitcoin and Ethereum on the rise again
Following Trump’s statements, Bitcoin exceeded $ 100,000. According to CoinMarketcap data, BTC rose from $ 92,000 to 101 thousand dollars in the last 24 hours. New investors entering the market increased volatility and large liquidations took place.
Ethereum also showed a similar recovery. After ETH fell to $ 2,451, it reached $ 2,880 again. The re -turning to the market by investors caused an increase in volumes. Purchase of large investors made the prices up.
Fear in the markets has been replaced by greedy
The crypto fear & greed index also experienced a rapid change. The index, which was previously at the level of fear, now increased to 72 points and passed to the greed zone. Investors started to take risks again and the entrance to the markets accelerated. This shows that the purchase appetite in the markets has increased. Experts say Bitcoin can test new levels of support. If prices are permanent at these levels, a new rally may start.
The US has not yet suspended the 10 %tariff for China. According to Wall Street Journal, China offered to restore trade agreements. However, the Trump management does not look hot to remove tariffs. Expectations in the piyasas are low. The crypto estimate platform Polymarket only shows the possibility of getting rid of tariffs as 9 %. This uncertainty can lead to fluctuations in Asian markets. Crypto markets continue to be directly influenced by global trade wars. Investors closely follow the developments. If negotiations progress positively, crypto beings can see new summits.
