It should be noted that Bitcoin ETFs have proven successful since its launch, with funds such as the Blackrock Ibit reaching assets for more than 52,000 million dollars.
In the market of cryptocurrenciesthe current panorama reflects generalized falls in several of the main digital currencies. The Bitcoin (BTC) records a loss of more than 1% in the last 24 hours, quoting near the US $ 97,500, according to Binance, while Ethereum (eth) experiences a setback of almost 3%, lowering up to the U $ 2,740.
The Altcoins do not escape the negative trend, with tokens such as XRP, Solana (Sol), Cardano (ADA) and Dogecoin (Doge) also in descent. The exception is Binance Coin (BNB), which records a moderate rebound.
These losses in the crypto market coincide with a period of great strength for gold, which continues to reach historical maximums. This precious metal rebound occurs in a context of growing economic uncertainty in the United States and China, added to the intensification of the commercial war between the two countries.
What does the market analyze
In this scenario, analyst Min Jung, from Prestro Research, warns that a commercial war could negatively affect Bitcoin. Although cryptocurrency is increasingly seen as “digital gold”, it is still considered a risk asset, which makes it vulnerable to global economic factors such as tariffs imposed by China to the United States.
In addition, the market is skeptical regarding the progress of the proposal of a strategic Bitcoin reserve in the United States, one of the most ambitious projects of the Trump administration. The “Tsar of Cryptocurrencies and Artificial Intelligence” of the White House, David Sacks, recently referred to the plans for the ‘stablecoins’, but did not provide new details about the strategic reserve. Although the White House Working Group continues to evaluate the viability of the proposal, no significant advances have been confirmed in this regard.
On the other hand, Eric Trump, son of the former president, has urged the cryptocurrency platform supported by his family, World Liberty Financial, to invest in Bitcoin. In addition, Trump Media, the Trump family media company, plans to launch several quoted funds (ETF) next year, including one based on the price of Bitcoin. These funds will be managed by Charles Schwab and advised by Yorkville Advisors, with an focus on cryptoactive market growth. It should be noted that Bitcoin ETFs have proven successful since its launch, with funds such as the Blackrock Ibit reaching assets for more than 52,000 million dollars.
Finally, market attention is focused on the publication of the Official Employment Report of January in the United States. The economy is expected to have created 170,000 new jobs, compared to the 256,000 of the previous month. If the data is lower than the expectations, it would increase the probability that the Federal Reserve considers to cut the interest rates in March again, after having pause in January.
Source: Ambito
