The bull rally demonstrated not only bitcoin, but also the main altcoins. During the day, the air grew by 10% to $ 1624, the XRP coin rose to $ 2, and SOL – to $ 115. Link and AVAX showed good growth – they increased to $ 12.4 (12.6%) and to $ 18.25 (10%), respectively. Cardano cryptocurrency also found himself in the Green Zone, rising to $ 0.6224. Bitcoin himself, despite a sharp breakthrough, later adjusted to $ 82,000.
Donald Trump had an influence on cryptocurrency, temporarily weakening economic pressure on other countries. He said that more than 75 countries contacted the US officials to discuss trade and foreign exchange issues. For them, a reduced tariff will be valid for them – 10%. However, duties on Chinese imports are increased to 125%, and these rules come into force immediately.
In his social network, Trump explained these tough measures “disrespect China to world markets.” The Minister of Finance Scott Bessent called on other countries at a conference in the White House not to take response, emphasizing that any country that is ready to negotiate with the United States will be heard.
Applications of the US administration were reflected not only in cryptocurrencies, but also in the stock market – the S&P 500 index increased by 9%. Among the technological companies, Tesla stocks increased by 14%, NVIDIA – by 12%, Apple – by 11%, Microsoft, Meta and Amazon increased by 8%, and Google shares added 6%.
Recently, Trump promised to make the United States the “world capital of Bitcoin” and called on Congress to speed up the development of legislation for cryptocurrencies. In early March, he signed a decree on the creation of a state reserve in bitcoins.
Source: Bits
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