Cryptocurrencies show a shy recovery in an environment of high uncertainty, while markets are waiting cautiously the impact of Trump’s commercial policies and the growing risk of recession in the US.
Cryptocurrencies They recover this Tuesday, February 1, with the BTCOIN (BTC) advancing around 3.4% and exceeding US $ 85,000, while Ethereum (ETH) rises 4.9% reaches US $ 1,900 again.
In the rest of the Altcoins, the increases are up to 7.1%of the hand of Sui, segly by Ethereum and Chainlink (4.9%) and Avalanche (4.7%).
This behavior occurs in a context marked by high uncertainty, since tomorrow The president of the USA, Donald Trump, It will reveal the details of the reciprocal tariffs that it has planned to impose on its commercial partners, a measure that has called “day of liberation.” Commercial tensions, especially with the European Union, Canada, Russia and China, are generating great concern in the markets, that closed the first quarter with disparate results. While Europe resisted the onslaught of Trump’s policy, the United States experienced a considerable fall.
Analysts, for the most part, are not optimistic about the economic implications of Trump’s tariffs. Goldman Sachs, for example, has raised the risk of recession in the US to 35%, a significant increase with respect to its previous forecast. In addition, a deceleration in GDP growth is expected, which is now estimated at 1.5%, reflecting the growing concern for the impact of the president’s policies on the global economy. Kathleen Brooks, director of analysis of XTB, warns that the White House could be risking not only the US economy, but also the global, by imposing these tariffs.
What the market expects
In this scenario, cryptocurrencies, which have often correlated with Nasdaq, have also suffered falls, erasing much of the profits obtained after Trump’s electoral victory. The lack of appetite for risk is reflected even in the crypto market: the relationship between Ethereum and Bitcoin (ETH/BTC) has fallen to its lowest level in five years, indicating that investors are looking for safer assets within a market as volatile as that of cryptocurrencies.
This weakening of Ethereum against Bitcoin is particularly remarkable, since it is the first time it occurs in the 12 months after a Bitcoin halving. In previous cycles, Ethereum beat Bitcoin during the first year after halving. This time, however, the relationship has decreased more than 50%.
Experts such as Joel Kruger, LMAX Group analyst, are cautious, pointing out that it is difficult to determine if we have touched Bitcoin and other cryptocurrencies. Despite uncertainty, Kruger highlights some positive trends, such as the most favorable policies towards cryptocurrencies in the US. and the growing participation of traditional financial firms in the crypto sector.
For his part, Javier Molina, senior market analyst in Etoro, points out that, since Bitcoin follows a narrow correlation with NASDAQ, it is likely that it in front of difficulties if the index fails to recover its key level above the 200 -day mobile average. According to Molina, While Bitcoin remains in the range of $ 77,000 to $ 92,000, weakness will continue to be observed. If it does not exceed $ 92,000, the road to 100,000 will be hindered, and any fall below $ 80,000 could take the Bitcoin to lower minimums, close to $ 73,000.
Source: Ambito
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