The United States investors are showing optimism towards the wider crypto market. This comes after President Donald Trump expressed positivity about the future of the market. Bitcoin led the altcoin market in a mild recovery on Thursday.
The European Union also expressed a willingness to negotiate with the United States, following Trump’s suspension of reciprocal tariffs. The President of the European Commission, Ursula von der Leyen, stated that if negotiations are not satisfactory, countermeasures will be implemented.
The crypto market is currently at a crucial point in the post-2024 Bitcoin halving cycle. Some analysts predict the onset of a macro bear market, while others anticipate a parabolic rally before the end of the year. The bullish sentiment in the market is gradually gaining momentum.
The VIX index, which measures market volatility, dropped sharply after Trump’s announcement on Wednesday. This indicates a higher probability of a market reversal in the near future. Additionally, the price of gold continued to rise on Thursday.
From a technical analysis perspective, Bitcoin is forming a potential falling wedge pattern. This is a bullish pattern that could lead to a breakout towards $88,000 if the buyers maintain their positions. A rise in Bitcoin’s price will also have a positive impact on the wider altcoin market.
In terms of frequently asked questions, the suspension of Trump’s tariffs has had a positive impact on the crypto market, boosting optimism and triggering a recovery. Bitcoin is currently forming a bullish pattern, and it is projected to reach $88,000. As for the future of Bitcoin, it is difficult to predict with certainty, but some experts believe it could reach $1 million by 2030 with global adoption.
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