This week’s focus for cryptocurrencies revolves around tariff-related announcements.
These upcoming statements will directly affect cryptocurrencies and stocks. Compared to early April, the current situation appears promising, and while this article was being prepared, White House statements were encouraging.
Bitcoin (BTC) is on the Rise
The leading cryptocurrency stood at $90,940 at the time of writing. Bessent mentioned in today’s announcement that there has been a more moderate approach with China. This week started off exceptionally well compared to last week’s announcements. Trump had previously suggested that countries worldwide would have to choose sides between China and the US. However, today’s statements are far more constructive.
White House Press Secretary Leavitt stated:
“Progress is being made on trade agreements. We currently have 18 proposals on paper for trade agreements. The trade team is meeting with 34 countries this week. We are doing well regarding potential agreements with China. We are moving in the right direction with China.”
US Treasury Secretary Bessent remarked during a JPMorgan session:
“A rebalancing of the Chinese economy towards consumption and the US economy towards production within two to three years would be a significant achievement.”
Some sources indicate that Trump is preparing to negotiate with China.
