Bitcoin (BTC) has recovered the $90,000 level, buoyed by expectations of easing trade conflicts. Most major altcoins also showed an upward trend, bringing vitality to the overall market.
According to the global virtual asset market monitoring site CoinMarketCap, as of 8:32 am on the 6th, the BTC price is fluctuating around the $90,000 level. At the domestic virtual asset exchanges Upbit and Bithumb, it is repeatedly rising and falling around the 135 million won level.
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The rebound in the virtual asset market today is analyzed to be due to US President Donald Trump's decision to suspend the 25% tariff on auto parts against Mexico and Canada for a month. Market participants seem to have interpreted this decision as a signal of easing global trade conflicts, improving their investment sentiment towards risky assets.
Chainlink (LINK), Bitcoin Cash (BCH), and Aptos (APT) each rose about 11%, 22%, and 14%, respectively, successfully rebounding in the double digits. Aptos' surge was amplified by the news that Bitwise had applied to the US Securities and Exchange Commission (SEC) to launch an Aptos spot exchange-traded fund (ETF).
In the stock market, the Nasdaq Composite Index and the S&P 500 Index, centered on tech stocks, closed the day up 1.46% at 18,552.73 and 1.12% at 64.48 points, respectively. Stocks related to virtual assets also showed a rebound. The virtual asset exchange Coinbase rose 4.66%, and the largest Bitcoin holder Strategies rose 12.14%.
Expectations for the White House Crypto Summit to be held this week also added to the upward momentum. Commerce Secretary Gina Raimondo said, "President Trump is expected to announce major changes in virtual asset policy, including a plan to stockpile Bitcoins, at the White House Crypto Summit this week." The event, which will be attended by President Trump and David Sacks, the virtual asset and AI czar, is scheduled for the 8th.
Analysts at virtual asset analysis firm Swissblock said, "Bitcoin fundamentals are showing signs of shifting to a bullish phase with sustained improvements in liquidity and network growth," adding, "This means the likelihood of BTC entering a bearish market is low."
- Reporter Yeri Do
- yeri.do@sedaily.com
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