BTC markets inched up on Monday, as the wider crypto market took an upbeat turn on recent trade-related news. Make no mistake — it’s full steam ahead with the movement up. For now Bitcoin’s rally, which began last week on tariff jitters, is climbing towards resistance around the $85,000 level.
Bitcoin continued to rise, nearing $85,000 as per The New Economy, bolstered by positive market sentiment and retaliation fears subsiding over trade talks. The positive trend aligns with Federal Reserve Governor Christopher Waller's suggestion of potential rate cuts if tariffs from the Trump era are reinstated.
Deepening the positive mood, the EU has delayed retaliatory tariffs on U.S. exports, soothing investor fears all around. Highlighting Bitcoin’s positive fundamentals, crypto analytics firm SwissBlock Technologies reported optimism was bolstering expectations for a breakout.
"Since March, we’ve seen a consistent inflow of new participants," - Swissblock analysts
Swissblock analysts highlighted Bitcoin’s improving network fundamentals and expanding liquidity as further signs of ongoing growth potential.
"Liquidity is stabilizing, no more erratic swings from early 2025." - Swissblock analysts
Bitcoin’s price is up 1.6% over the past day and is now trading slightly under $85,000. Ether (ETH) made notable gains, rising 2.7% to $1,630 in the same time frame. The CoinDesk 20’s broad-market index increased 1.2%. This index includes the 20 largest cryptocurrencies by market cap, with stablecoins, memecoins and exchange coins removed. SOL and AVAX were mostly responsible for this jump in the CoinDesk 20 Index.
Federal Reserve Governor Christopher Waller indicated that the central bank may consider cutting interest rates should tariffs lead to an economic slowdown.
"If the slowdown is significant and even threatens a recession, then I would expect to favor cutting the FOMC's policy rate sooner, and to a greater extent than I had previously thought." - Christopher Waller
