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Why is Crypto Going Up Today: Fed and Trump Tariff News Spark Rally
The global crypto market is showing signs of a fresh recovery. As of now, the total market cap has reached $2.64 trillion, up by 0.82% in the last 24 hours. However, the overall trading activity has slowed down, with total market volume dropping by 24.37% to $79.67 billion.
Out of this, $7.47 billion came from DeFi platforms, making up 9.38% of the total. Meanwhile, stablecoin trading accounted for 93.48%, or $74.48 billion, of the total crypto trading volume.
Even with lower trading volume, major tokens are on the rise. According to CoinMarketCap, Bitcoin has risen to $83,000, increasing by 0.91%. Ethereum is at $1,590, increasing by 1.55%. XRP reached $2.05 following a 2.10% rise, while Solana experienced a big 4.84% increase to $124.25.
Source: CoinMarketCap
Why is Crypto Going Up?
The recent rally is attributed to two primary reasons: a new Fed signal and a major announcement by Donald Trump.
Fed’s Latest Signal Calms Investors: Susan Collins, a senior official at the U.S. Federal Reserve, said in an interview with the Financial Times that the Fed is ready to use more tools if liquidity becomes a problem.
“Interest rate change is not the only way. We have other tools to fix issues,” she said.
This comment gave investors more confidence, especially when the bond the sector showed signs of stress with rising 10-year U.S. Treasury yields.
Trump 90 Day Tariff Pause: Another reason behind the price surge is a post by former U.S. President Donald Trump. He said that most countries won’t face new tariffs for the next 90 days, except for China.
Trump announced a 10% baseline tariff, effective immediately, but said that no additional action will be taken for now.
This move is expected to ease global tensions and has helped boost confidence in both stocks and digital assets.
Fear and Greed Index Crypto: The Fear and Greed Index for crypto is also an important factor. It currently stands at 43 (Fear), an improvement from 25 (Extreme Fear) a day ago. This reflects decreasing investor fear, which is commonly a precursor to a market turnaround.
What’s Next for the Market?
The current price move is driven by optimism, but things have a way of turning quickly. Any subsequent Trump announcement regarding tariffs, or an unexpected Fed move, has the potential to boost or blow up the industry again.
Investors must remain vigilant. Though the data available at the moment indicates strength in Bitcoin and other leading tokens, the general decline in trading volume indicates that many are still taking a wait-and-see approach. Whether or not the sector continues to rise or recedes will be based on future world news and investor response.
Currently, the market is in recovery mode, but its future direction in the next few days hinges on what policymakers do next.
Also read:
What Happened in Crypto Today: Pi Network Soars, Eyes on BTC
