Bullish Technicals & Market Catalysts
The cryptocurrency market rebounded after the recent decline. Currently, the total market value of the cryptocurrency market is 2.96 tons. The market has experienced a 1.5% increase in the past 24 hours. Almost all top ten cryptocurrencies have grown during this period. BTC has grown 2.7%, ETH has grown 1.6%, XRP has grown 3.2%, SOL has grown 3.2%, and Doge has grown 2.9%. The biggest question is: What triggered this rebound? Let’s dig into the key reasons for this price increase.
Trump’s tariff delay sparks market optimism
Earlier, U.S. President Donald Trump announced a 25% tax on automobile imports for Canada and Mexico.
This move has wreaked havoc in the global economy. It has even affected the crypto industry.
There are concerns that this development could push North America into a serious trade war.
Yesterday, a temporary solution was proposed in the issue as Trump agreed to delay the implementation of the tariff plan by 30 days.
The decision is the final result of a series of discussions with Trump with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum.
The temporary cessation of the implementation of the plan avoids immediate trade disruptions, and thus macroeconomic pressures have been greatly reduced.
Experts believe that this development has had a positive impact on the crypto market.
Stock market earnings increase crypto rally
Yesterday, the U.S. market reported an increase of about 1.05%. The S&P 500 rose to $5,842.62 from $5,781.50.
Crypto markets, even cryptocurrencies, benefit from the positive momentum in the U.S. stock landscape.
Yesterday, MicroStrategy shares rose from $277.54 to $308.55, marking a significant increase of 11.17%
On the same day, Coinbase Global’s stock price rose from $214.64 to $222.45, recording 3.63%
Dollar and interest rate speculation is weak
The dollar index has fallen by 3.21% over the past four days. A weaker dollar can indicate concerns about the health of the U.S. economy. It could lead to higher import prices, potentially fuel inflation.
If the dollar falls and the fall helps inflation, the U.S. Federal Reserve may adjust interest rates.
The report said that the Fed’s reduction rate in June 2025 has a 52% probability.
Lower interest rates can encourage investors to seek higher returns on risky assets, such as cryptocurrencies.
It is fair to assume that the DXY index reading and the decline in speculation about lowering interest rates have had a positive impact on the crypto market.
Technical indicators point to bullish breakthroughs
Currently, the total market value of the cryptocurrency market is 2.96 tons. The 200-day SMA market is 2.79 tons, the 100-day SMA is 3.28t, and the 50-day SMA is 3.19t.
Recently, the market rebounded from the 200-day SMA series, which is a strong support. Now, it is at least 5.74% higher than support.
100-day SMA and 50-day SMA now act as resistance levels. If it exceeds the 3.19 tons and 3.28 tons range, the market may see a strong bullish rally.
The market’s RSI is 47.58. This also shows that the market has enough room to develop further.
In short, the cryptocurrency market shows strength, and key technical levels are at the focus. If the trend continues, a bullish breakout may occur.
