Concerns Over Trade War Persist, Bitcoin at 87K, BNB Shows Strong Trend
Concerns Over Trade War Overshadow Better-Than-Expected U.S. Economic Growth Data, Leading to a Decline in U.S. Stock Market
Due to concerns about the escalation of the trade war overshadowing better-than-expected U.S. economic growth data, the U.S. stock market declined. The top ten cryptocurrencies by market capitalization exhibited mixed performance, with Bitcoin stabilizing at 87K. Binance founder Zhao Changpeng (CZ) recently launched the paid communication platform Reachme.io, and the continuous introduction of new activities by Binance has boosted BNB’s momentum.
Ongoing Trade War Concerns Masking Better-Than-Expected GDP Data
U.S. President Trump announced a 25% tariff on automobile imports and promised harsher penalties if the European Union and Canada join forces against the U.S. Trump’s escalating trade actions are likely to deepen tensions with major trading partners before he commits to implementing so-called reciprocal tariffs on April 2.
Data shows that the economic growth rate in the fourth quarter exceeded previous expectations, but this failed to offset the market’s sentiment impact. The final report for the U.S. GDP growth rate in the fourth quarter of last year was 2.4%, compared to an expected 2.3%. The number of initial jobless claims last week was reported at 224,000, also better than the expected 225,000.
The market has recently been troubled by emotional uncertainties surrounding tariffs, with soft data (such as consumer confidence index) impacting the market far more than hard data (such as GDP and unemployment rate).
Tonight’s PCE Data: Is Inflation Inevitable?
Investors will turn their attention to the U.S. Personal Consumption Expenditures Price Index (PCE) on Friday. With price levels still causing concern among officials, the Federal Reserve’s preferred potential inflation indicator is expected to show signs of stickiness.
Susan Collins from the Boston Federal Reserve Bank stated that tariffs will inevitably push inflation higher “at least in the short term,” adding that maintaining stable interest rates in the long term may be appropriate.
Bitcoin Stabilizes at 87K, Binance Strongly Promotes BNB
The top ten cryptocurrencies by market capitalization showed mixed performance but remained within a narrow range. Bitcoin is holding steady at 87K, while Ethereum is hovering around the low 2,000s.
Binance founder Zhao Changpeng (CZ) recently launched the paid communication platform Reachme.io, featuring a “Pay to Reach” model, allowing users to send private messages to KOLs via BNB for efficient communication. Binance’s recent activities have also boosted BNB’s momentum.
(CZ’s New Creation Reachme.io Launched: One-Click Paid Private Messaging to KOLs, Advocating for Efficient Communication)
Risk Warning
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