Cryptocurrencies Price Prediction: Cryptos, Bitcoin & Trump – American Wrap 10 April
Strategic accumulation and capital rotation signal market maturity amid global turbulence
The crypto market is beginning to show clear signs of resurgence and stabilization after a few days of heightened volatility and downward swings caused by mounting geopolitical tensions and macroeconomic headwinds. The escalation of the already fragile world trade relations to the possibility of an economic nuclear war initially led to a widespread sell-off across digital assets and traditional stock indices. Bitcoin dropped below $75,000, ETH fell to $1,415 as the crypto market cap dropped below $2.5 trillion for the first time since November 2024, while major traditional stock indices like S&P 500, NASDAQ, and DOW Jones plunged to their lowest levels in nearly a year.
Bitcoin miners scurry to import mining equipment following Trump's China tariffs
Bitcoin (BTC) miners are reportedly scrambling to import mining equipment into the United States (US) following rising tariff tensions in the US-China trade war, according to a Blockspace report on Wednesday. Before the tariffs kicked in, most miners allegedly paid $2 million to $3.5 million extra for flights to get mining hardware into the US.
Crypto market stabilises after rebound
The cryptocurrency market cap has stabilised near a key level since the start of the week and went up steadily on the back of tariff news following the rise in equities. However, the spurt was half that of equities. Total capitalisation reached $2.60 trillion, pushing back from support near $2.3 trillion, the level from which the rally began late last year. So far, the rise has been met with caution as capitalisation has yet to cross its 200-day moving average, which is pointing upwards and approaching $2.96 trillion.
Author
FXStreet Team
FXStreet
