Things have not been great for the big crypto names like BTC, XRP, and other altcoins. Trump’s recent announcement put investors on edge, and a mass-liquidation event followed. Subsequently, this crash is not limited to the crypto landscape.
The US Stock futures also recorded one of the lowest futures. Overall, the trading landscape is in jeopardy. However, the charts are showing some positive movements, which has put people on overdrive. Will the table turn, or will there be another mass-liquidation event?
The biggest name in crypto, BTC, is showing some positive climb. The token has been seen gradually climbing. At press time, BTC shows a positive needle shift of 3.34%. As per CoinDesk, this climb has been seen in the last 24 hours.
The Calm Before The Storm?
This positive climb can also be seen in XRP. CoinDesk data suggests that the token has managed to rise by 1.30%. Therefore, speculations indicate that there might be something positive at the end of it all.
On the other hand, the S&P 500 is showing a gradual drop of 4.84%. This indicates that the market is in flux. This state makes the market react the way it is reacting. The primary reason behind this state is not a single one. It is an amalgamation of several factors.
However, Tracy Jin, COO of MEXC, claimed that “Retaliatory tariffs, potential provocations, and verbal interventions will be an excellent basis for increasing volatility in the cryptocurrency market.” In other words, the current state can be attributed to revised financial policies implemented by the Trump Administration.
Other industry experts believe this slowdown can have a gigantic effect on the US economy in the long run. It is believed that this slowdown might not just affect the investors.Itt can also weaken the position of the US dollar on the global scale.
