Bitcoin’s price has declined to approximately $102,400, reflecting a 0.88% drop from the previous close. This downturn follows a recent peak of $104,546 and a low of $101,065 within the same trading session. The cryptocurrency market is experiencing heightened volatility due to recent geopolitical developments and anticipation of key economic indicators.
The recent agreement between the United States and China to reduce mutual tariffs has introduced a temporary sense of relief in global markets. Specifically, the U.S. has agreed to lower tariffs on Chinese imports from 145% to 30%, while China has reduced its tariffs on U.S. goods from 125% to 10%. This 90-day truce aims to ease trade tensions between the two largest economies.
Despite this positive development, investors remain cautious. The cryptocurrency market, known for its sensitivity to macroeconomic factors, is now focused on the upcoming release of the U.S. Consumer Price Index (CPI) data. This data is crucial as it provides insights into inflation trends, which can influence the Federal Reserve’s monetary policy decisions.
In the broader financial landscape, Asian stock markets have shown mixed reactions. While Japan’s Nikkei index rose over 2%, Hong Kong’s Hang Seng index fell by 1.67%. The U.S. dollar has weakened, and Treasury yields have reached near one-month highs, with the 10-year yield at 4.4512%.
As the market awaits the U.S. CPI data, Bitcoin’s price movement will likely continue to be influenced by global economic indicators and investor sentiment.
