Odaily News U.S. Treasury Secretary Scott Bessent did not rule out the possibility of a recession on NBC News last Sunday, which may mean that Trump is not ready to back down in the tariff fight. If stock prices continue to fall, it is difficult to imagine that Bitcoin will remain resilient in the long run, especially considering the lack of an exciting narrative in the crypto market.
Greg Magadini, director of derivatives at Amberdata, said: "Whether Trump will change the course of tariffs and his efforts to restore US manufacturing to these price levels are worth watching, but it is impossible to imagine a collapse in risk assets and cryptocurrencies are not affected." Focus on the macro economy means that traders will pay attention to Wednesday's Federal Reserve meeting for clues on the central bank's preparations to deploy stimulus measures. (CoinDesk)