Market Overview
You are reading the Crypto Daybook Americas, a daily briefing on the latest in the cryptocurrency sector. This morning’s analysis highlights bitcoin’s major movements and market expectations following key tariff announcements.
Bitcoin Surge
Bitcoin’s price briefly crossed $105,000 following an announcement that the U.S. would lower tariffs on Chinese imports from 145% to 30% for 90 days. In retaliation, China will reduce tariffs on U.S. goods from 125% to 10% during this same period.
Ethereum and Market Sentiment
Ethereum, meanwhile, has shown a remarkable monthly performance, gaining over 40% since early May, with the ETH/BTC ratio reflecting its strongest performance in months.
Additional Insights
The U.S. Dollar Index (DXY) increased above 101, while gold saw a dip, declining over 3%. Attention is now focused on upcoming inflation figures, where the expectation is that year-over-year inflation remains at 2.4%.
Upcoming Events
- May 12: U.S. SEC Crypto Task Force session on Tokenization.
- May 13: Hearing in Singapore regarding the WazirX exchange.
- May 14: Major Neo (NEO) network upgrades.
Within the financial field, Strategy (MSTR) held its annual meeting, where CEO Michael Saylor reinforced the company’s commitment to bitcoin and AI for enhanced operational effectiveness.
Conclusion
As the market adjusts and responds to tariff changes, the trend of major cryptocurrencies, particularly bitcoin and ethereum, is expected to influence broader economic interactions and investor sentiments.
