Crypto Market Rallies as Trump Teases Major Trade Deal Announcement
US President Donald Trump announced a forthcoming "big" tariff deal with a respected ally, potentially boosting the crypto market. Increased prices for Bitcoin and altcoins have been observed over the past week.
- Bitcoin price increased by 2.71%, nearing $100K.
- Ethereum rose by 5%, approaching $1,900.
Details on the Upcoming Trade Deal
Trump will reveal details of the trade deal at a news conference scheduled for Thursday at 10:00 AM. Speculation suggests this may involve a US-UK trade agreement aimed at reducing tariffs.
- Reducing tariffs could ease inflationary pressures.
- A favorable environment for investments in crypto and tech may emerge.
In related developments, Bitcoin surpassed $99K for the first time since February, with weekly gains approaching 5%. Other altcoins such as SOL, XRP, DOGE, and ADA experienced gains of 3-5%.
Expectations from the Trade Talks
The New York Times reported that the US is entering negotiations with the UK. Key areas for discussion include tariff rates and digital trade challenges.