Crypto Market in Profit, Bitcoin Price more than USD 84,400, Donald Trump

Crypto market has volatility for the last few weeks. The largest cryptocurrency Bitcoin price in terms of market value was about one percent on Thursday. President Donald Trump in the US has increased the pressure on markets due to the apprehension of Jerome Powell, the head of Federal Reserve for imposing tariffs on many countries including China.
International Crypto Exchange after this report is published Binance But Bitcoin’s price rose by about one percent to $ 84,477. The second largest cryptocurrency Ether had a profit of more than 1.50 percent. The price of Ether trading in a range for the last few months was at $ 1,595. Other fast -fasting cryptocurrency included Solana, XRP, Tether and BNB.

Market Analysts say that Macro does not have much movement in the Crypto market due to economic uncertainty. However, Bitcoin Spot ETFS has played an important role in handling the sentiment. However, the possibility of Federal Reserve over Trump’s tariff decisions has reduced the chances of cutting interest rates in short-term. Due to this some profit booking has been done. Trump has increased the tariff on China. There is already a lot of stress about trade between the two countries. Significant resistance at $ 86,300 for bitcoin is supported at $ 82,000.

Government agencies in New York, USA have been approved to take payments in Crypto. This is likely to increase the scope of cryptocurrency. Billionaire Mark Cuban has advised not to sell as the markets may get recovery soon. Recently, the Executive Director of the Council of Advisors of the President on the Digital Assets of the White House, BO HINES, said that the US government is considering ways to use its gold reserve for holding bitcoin. He had said, “If we redeem the profit on the reserve of Gold, it would be a better way to buy bitcoin.” Hines mentioned the Bitcoin Act introduced by Senator Cynthia Lummis. It was suggested to buy about 1 million bitcoins.