Why is the encryption market today? – Tradingvief news

The cryptocurrency market has recovered after a sale that pushed its public evaluation to the lowest level since November 2024.

As of March 6, the global market value of encryption was 3.10 trillion dollars, increasing by 5 % over the past 24 hours. Top coins, Bitcoin btcusd And the ether ethusd He led a rally inside the day with a daily gain of 5.6 % for each.

Let’s take a look at the best incentives that lead the recovery of the encryption market today.

Bitcoin reverses the delay of the car tariff in Trump

The recovery in the encryption market today is closely in line with similar counterattacks in the US stock market, as the delay of the Donald Trump tariff has reduced the investor’s concerns, with bitcoin rise in the market.

What do you know:

• On March 5, US President Donald Trump temporarily stopped the proposed definitions at 25 % on the imports of car from Canada and Mexico.

• These definitions were confirmed earlier this week, and it has sparked fears of the trade war, shakes global financial markets and withdraws risk assets such as cryptocurrencies.

• Bitcoin, for example, decreased to less than $ 90,000 on March 3, and this is uncertain.

• However, in the wake of negotiations with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Shinbom, Trump agreed to delay 30 days and reduce tensions.

• This retreat from feelings on risks, as Bitcoin rose to above 92,000 dollars and the ether excelled over $ 2300.

• Analysts suggest that avoiding immediate trade disorders has reduced the pressure of macroeconomic, allowing encryption – a sensitive sector for such transformations – to recover and gather.

Feelings reinforce the encryption market

The continuous encryption rally reflects the strength of American stocks.

• The wide -market S&P 500 and NASDAC, which focuses on technology, increased by 1.5 % and 1.2 %, respectively, during the trading session in late New York on March 5.

• The shares associated with the encryption also increased, as Clepto Excination Coinbase (COIN) increased by 4.5 % and the strategy (MSTR) has gained about 12 %.

• The US dollar index (DXY) is at its weakest level since early November, and has decreased by more than 5.5 % of its peak on January 13, 110.17.

• The Federal Reserve Average expectation expects more price cuts in 2025, as market participants are betting on 52 % of the 32 points reduction opportunities in June.

“Looking at this trend, the feelings seem to turn towards more mitigation, and possibly driven by economic data, inflation trends, and nutrition suspension, the market commentator Walter Bloomberg said in a post on March 5 on X.

“The market initially in fewer discounts but has now rose up – will the Federal Reserve follow up?”

The recovery of the encryption market

From a technical perspective, the encryption market gains today are part of a recovery that has begun to meet the support that includes the psychological level at $ 2.80 trillion and the simple moving average for 200 days (SMA).

The total market, which is currently $ 2.95 trillion, is seeking to break the resistance area between $ 3.1 trillion and 3.28 trillion dollars, where SMAS sits for 100 days and 50 days.

If this happens, it will indicate an upward outbreak from the current declining trend, as the bulls target its highest level ever over $ 3.69 trillion.

The daily relative strength index, or the relative power index jumped from excessive sale conditions on February 20 to the current value of 47, indicating that the upscale momentum accumulates.

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.