Stable market. While the market of cryptocurrencies remains generally stabletrade negotiations between the United States and China have sparked renewed optimism on Asian markets. Indeed, the Hong Kong Hang Seng index has reached its highest level since March, exceeding 24,000 points, even if during this time, the main cryptos, including Bitcoin, have not shown any significant upward dynamics. Back on the latest market movements to the east of the world.
- The cryptocurrency market has remained stable despite a renewed optimism on the Asian markets linked to trade negotiations between the United States and China.
- The Hong Kong Hang Seng index has reached its highest level since March, exceeding 24,000 points, while Bitcoin and other altcoins have shown little upward dynamics.
Bitcoin and Altcoins: a stop market
While the bitcoin is currently exchanged between $ 105,000 and 106,000, in a rather neutral to negative trend, the data de Blockchain.com show a Decrease in activity on the Bitcoin network. The mobile average of daily transactions over seven days fell to 315,480, reaching its lowest level for at least a year.
At the same time, other major cryptocurrencies, such as XRP and Doge, have also known drop. THE Xrp was exchanged at $ 2.24, down more than 1 % over the day, while the Dogecoin fell by almost 2 %, approaching 18 cents.
On the side of traditional markets, the index Hang Seng Hong Kong A increase 1.3 %, exceeding 24,000 points for the first time since March. This increase is attributed to optimism surrounding commercial negotiations between UNITED STATES and the China. President Donald Trump said the meeting should « Very well go »thus reinforcing the confidence of investors.
Traditional markets also remain in expectation
However, the China continues to cope with a growing deflation. Consumer prices fell by 0.1 % in May compared to the previous year, while production prices dropped by 3.3 %. According to Robin Brooks of the Brookings Institution,, quoted By Coindesk, the US customs duties are at the origin of this deflationary shock for China.
Markets also await data on theInflation in the United Statesplanned for Wednesday. The overall inflation rate is expected at 0.2 % for the month of May, an annual increase of 2.5 %. However, underlying inflation, which excludes volatile elements such as food and energy, could increase by 2.9 %.
According to economists of Barclaysthis data could show the first signs of the impact of President Trump’s customs tariffs on consumer goods prices. Higher inflation than expected could influence the decisions of the Federal reserve concerning interest rates.
While traditional financial markets react positively to trade negotiations between the United States and China, the cryptocurrency market remains relatively stable. Investors closely monitor economic data, including inflation in the United States, to anticipate future movements. In this uncertain context, bitcoin and altcoins continue to stagnate, reflecting a certain caution among the traders.