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The crypto market has stabilized somewhat following comments from Commerce Minister Howard Lutnick, who said that President Donald Trump could announce on Wednesday a pathway for tariff relief on Canadian and Mexican imports covered by NAFTA.

This has contributed to a rise in Bitcoin’s value, nearing $90K, with the overall crypto market cap reaching approximately $2.9 trillion. Expectations of potential Federal Reserve rate cuts have sparked renewed interest in the market.

According to CME’s FedWatch tool, the market is forecasting at least three rate cuts for this year. The U.S. 10-year Treasury yield has declined to 4.15%, a drop from 4.80% when Trump took office. Additionally, Germany’s decision to loosen fiscal constraints is causing soaring bond yields, which may lead to increased market risks.

Consequently, Bitcoin may aim to reclaim its recent high of $95,000, particularly as charts signal potential buyer exhaustion. However, economic concerns could temper these gains. Recently, the Atlanta Fed’s GDP forecast turned negative at -2.8%, a sign of possible stagflation, according to Singapore-based QCP Capital.

As such, upcoming U.S. ISM non-manufacturing PMI and Friday’s nonfarm payrolls could have significant effects on the crypto markets. There’s speculation that President Trump will unveil the crypto reserve strategy at the White House Crypto Summit this Friday, with markets attentively watching for his commitments.