After the market opened on Tuesday, the fluctuations were quite significant, especially in the U.S. stock market, which has two main concerns: one is Trump's health condition, and the other is the ruling that U.S. tariffs are illegal. Trump's health issues began to gain traction over the weekend, leading to increasing discussions. Today, Trump spoke out in response to the health concerns. Whether there is a real problem is something most people probably don't know; the previous president, Biden, was in a similar situation.
At least today, Trump stood up, which reduced the voices of doubt. Moreover, Trump's speech was very fluent, without obvious logical errors or stuttering, and even his signature expression management was quite good. Therefore, from the moment Trump stood up until the end of his speech, the U.S. stock market began to rebound, even if it was just for show; Trump’s performance this time was acceptable.
The issue of tariffs is indeed more troublesome. I focused on tariffs when writing the weekly report, so I won't elaborate too much here. Currently, Trump's team is seeking to appeal to the Supreme Court, giving them a month. If the tariffs really fail, it may reduce some inflation, but it would be a significant blow to Trump's personal credibility and support.
Industries supported by Trump will also be greatly affected. For example, cryptocurrencies and $BTC may suffer from unforeseen disasters. Trump is currently leveraging the U.S. economy to rally support, which may seem shameless, but it is indeed effective.
Looking at Bitcoin's data, it is very normal for the turnover rate to rise after the holiday. However, in the afternoon, the price of BTC began to rise. Although there was some volatility, the overall trend was good, especially when the U.S. stock market fell for the reasons mentioned above, BTC's performance remained healthy. Whether this can continue will require further observation.
As I have always said, the support levels are very stable. It is likely that the fluctuations of BTC over the weekend have already digested the market's negative sentiment. In the absence of new clear negative news, the two support levels are not under much pressure. Starting Wednesday, labor data will gradually emerge, which may slowly impact the market again.
This article is sponsored by #Bitget | @Bitget_zh
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