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Crypto Market Outlook: Trump’s Tariff Pause and EU Talks Fuel Bullish Sentiment
As the North American financial market gradually opened on Thursday, it became apparent that United States investors are optimistic about the wider crypto market in the long haul. Following President Donald Trump’s promise of more great days ahead, akin to Wednesday, Bitcoin (BTC) price led the broader altcoin market in mild recovery during the mid-New York session.
Earlier today, Ursula von der Leyen, EC President, noted that the European Union intends to give negotiations a chance following Trump’s 90-day suspension of historical reciprocal tariffs. “If negotiations are not satisfactory, our countermeasures will kick in. Preparatory work on further countermeasures continues. As I have said before, all options remain on the table,” von der Leyen emphasized earlier today.
Crypto Market Analysis
The crypto market is at a critical juncture in the post-2024 Bitcoin halving cycle, with some on-chain analysts calling for the onset of the macro bear market while others anticipate a parabolic rally by the end of this year. However, the bullish outlook is gradually gaining momentum.
Furthermore, the VIX index dropped significantly over the past 24 hours to 37.20 following Trump’s announcement yesterday, signaling rising odds of a market reversal in the near term. Additionally, Gold price extended its gains on Thursday, trading at approximately $3,124 as of this writing.
From a technical analysis perspective, Bitcoin’s price has been forming a potential falling wedge pattern in the 1-hour time frame after yesterday’s surge. As a result, BTC’s price is well-positioned to rally towards $88K if buyers continue to hold their positions.
This bullish sentiment will likely carry the broader altcoin market, led by Solana (SOL), BNB, Ethereum (ETH), and Toncoin (TON), among others.
Source: https://coinpedia.org/price-analysis/crypto-market-outlook-trumps-tariff-pause-and-eu-talks-fuel-bullish-sentiment/
