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Is The Bitcoin Bottom In After Trump’s Tariff Pause? Here’s What To Expect
- Bitcoin surged over 8% following Trump's announcement of a tariff pause for most countries, excluding China.
- Trump's tariff rate on China increased to 125%, showing ongoing trade tensions and uncertainty in global markets.
- Market reactions suggest changing expectations around future negotiations, with Bitcoin prices influenced by these shifts.
- A potential deal with China remains unpriced, indicating a significant market response if negotiations progress.
- Funds are re-grossing positions, and short-sellers are covering, reminiscent of COVID period market behavior.
- Concerns about yuan dynamics, high yields, and credit issues persist, impacting risk assets' outlook.
- Goldman Sachs revised its recession baseline after the tariff pause, expecting continued sector-specific tariffs.
- Today's US CPI release may influence BTC's next move, with expectations of around 2.5% YoY and 3.0% to 3.1% YoY for core CPI.
- Market volatility remains high, with concerns over liquidity and safe-haven flows impacting investor behavior.
- Goldman anticipates additional sector-specific tariffs despite the partial tariff pause, adjusting its GDP growth forecast.
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