Did Trump Back Down? U.S. Stocks Surge for Two Consecutive Days as Bitcoin Becomes the Eighth Largest Asset Globally
Signs Indicate President Trump is Reconsidering His Aggressive Stance on Trade and the Federal Reserve
Signs suggest that U.S. President Trump is reevaluating his confrontational positions on trade and the Federal Reserve, which has sparked a continuous rise in the stock market and the dollar. Bitcoin is making a strong comeback, with a market capitalization reaching $1.86 trillion, placing it eighth in the global asset and publicly traded company rankings.
Softening Attitude: Has Trump Backed Down?
According to Bloomberg, the U.S. is willing to gradually reduce tariffs on China over five years. Trump told reporters that once negotiations conclude, China “will do very well.” Meanwhile, Treasury Secretary Mnuchin publicly stated on Wednesday that both parties are expected to reach a “significant agreement.”
(Could U.S.-China Trade Relations Welcome a “Beautiful Rebalancing”? U.S. Treasury Secretary Releases Reform Signals)
Yesterday, the topic “Trump has backed down” trended on Weibo, with netizens focusing on Trump’s statements and the stock market’s reaction, describing him as “fickle” and “changing daily.”
Trade Worries Dominate Fed’s Beige Book: Multiple Regions’ Outlooks “Deteriorate Significantly”
The latest Federal Reserve Beige Book indicates that in recent weeks, President Trump has amplified the uncertainty of tariffs imposed on U.S. trading partners nationwide. The report states that as economic uncertainty grows, particularly regarding tariffs, the outlook in multiple regions has “deteriorated significantly.”
Due to companies’ expectations that tariffs will lead to increased input costs, prices have risen across various regions. Many companies reported receiving notices from suppliers about rising costs, with most businesses indicating plans to pass the increased prices onto consumers.
The report notes that several regions reported businesses adopting a wait-and-see approach regarding employment, pausing or slowing down hiring until economic conditions become clearer. Additionally, there are sporadic reports of companies preparing for layoffs.
The next Federal Reserve meeting is scheduled for May 6-7. According to the CME FedWatch index, investors generally believe that the Fed will remain on hold this time but may have the opportunity to cut rates again in June.
Bitcoin Makes a Strong Comeback: $TRUMP Coin Surges Over 40%
Bitcoin reached a high of $94,696 yesterday, and although it has slightly retreated today, its market capitalization stands at $1.86 trillion, just behind silver’s $1.89 trillion, placing it eighth in the global asset and publicly traded company rankings.
Source: Coinglass
Arthur Hayes, founder of BitMEX, published a lengthy article yesterday (April 23) comparing his skiing experience in Hokkaido to the financial market risks triggered by the Trump administration’s aggressive tariff policies. He believes that this “Tariff Ski Cut” has led to significant volatility in the bond market, and the swift responses from the U.S. Treasury and the Fed have established a bullish bottom for Bitcoin, predicting that BTC will soon break through the $110,000 barrier.
(Could Bitcoin Reach $110,000? From Trump’s Tariff Avalanche to the Dollar Pumping: Arthur Hayes Predicts a Crypto Bull Market Amid Bond Market Turmoil)
The $TRUMP Coin surged over 40% yesterday. The first 220 holders of the $TRUMP Coin will have the opportunity to receive a super exclusive invitation to dine with U.S. President Donald Trump. This event is described by the organizers as “the world’s most exclusive invitation,” set for May 22 at the renowned Trump National Golf Club in Washington, D.C.
(Exclusive Dinner Opportunity for $TRUMP Coin Holders! The First 220 Will Be Invited to Dine with Trump)
Risk Warning
Investing in cryptocurrencies carries a high level of risk, and prices may be highly volatile. You may lose your entire principal. Please assess the risks carefully.
