This market overview analyzes the immediate effects of President Trump's statements on cryptocurrency values, observing an initial surge followed by a complete reversal. Trump's advocacy for a crypto strategic reserve, including altcoins, is viewed skeptically, with an expectation of a Bitcoin-only compromise.
New tariffs on Mexico and Canada are blamed for the downturn in risk assets, overshadowing initial crypto gains. The anticipation of a "Crypto Summit" introduces further uncertainty into the crypto markets. Finally, the overview highlights changing expectations in interest rate markets, where analysts predict that weak economic data will encourage additional rate cuts this year.
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