Bitcoin price today rises to $87.3k.
Bitcoin was slightly higher in range-bound trading on Wednesday, as investors sought clarity on impending U.S. trade tariffs amid fears the recent rise could be a “bull trap”.
The world’s largest cryptocurrency advanced $87,284.50 by 01:15 ET (05:15 GMT)
Market participants cautiously await President Donald Trump’s planned reciprocal tariffs set to commence on April 2, targeting specific U.S. trading partners.
Initially, broad levies were anticipated; however, recent reports suggest a more selective approach, focusing on countries with significant trade imbalances with the U.S.
The cryptocurrency market’s sensitivity to geopolitical developments has been evident, with Bitcoin’s price movements closely linked to news on trade policies.
For instance, Bitcoin had jumped above $88,500 at the start of the week after media reports suggested expectations of a measured approach by Trump while imposing fresh tariffs.
However, analysts believe that Bitcoin faces potential resistance around the $90,000 level, and investors fear that this recent rise could be a “bull trap”.
European stocks edge higher.
European stock markets edged higher Wednesday, as investors continue to look for more certainty over trade tariffs as well as the U.K. financial outlook.
At 04:02 ET (08:02 GMT), the DAX index in Germany climbed 0.4%, the CAC 40 in France gained 0.2% and the FTSE 100 in the UK rose 0.4%.
Relief rally continues
European equity indices have continued to benefit from the recent relief rally in global stocks, built on optimism for a softer, more flexible stance from U.S. President Donald Trump with regard to potential U.S. tariffs.
However, a great deal of uncertainty remains as the tariff deadline of April 2 draws nearer.
Trump said in a Tuesday evening interview with Newsmax that he was seeking limited exceptions in his plans to impose more trade tariffs but added that he did not “want to have too many exceptions.”
Trump on tariff exceptions.
U.S. stock futures tick lower after equities on Wall Street rose in the prior session on hopes that an expected U.S. tariff announcement next week will be less severe than anticipated. Still, President Donald Trump says he plans to limit exceptions to the upcoming levies. Elsewhere, investors are keeping an eye on a raft of corporate earnings and gauging both U.K. inflation data and the impact of a naval ceasefire agreement between Russia and Ukraine.
U.S. stock futures hovered below the flatline on Wednesday, as investors weighed President Trump’s tariff plans and looked ahead to a fresh batch of corporate earnings.
By 04:31 ET (08:31 GMT), the Dow futures contract had dipped by 45 points or 0.1%, S&P 500 futures had fallen by 8 points 0.1%, and Nasdaq 100 futures had slipped by 37 points or 0.2%.
The main averages eked out gains on Tuesday, with markets breathing a sigh of relief after recent media reports suggested that Trump’s anticipated April 2 tariffs would be more limited than expected.
But positive sentiment was counterbalanced by a downbeat Conference Board survey showing a decline in consumer confidence. A separate measure of nonmanufacturing activity from the Philadelphia Federal Reserve was also negative, with demand dented by worries around intensifying inflationary pressures.
Trump has said that he will seek to limit exceptions to his plans to impose more trade tariffs, as his April 2 deadline for reciprocal duties approaches.
But the president told Newsmax’s Greg Kelly in a Tuesday evening interview that he did not “want to have too many exceptions” to his upcoming levies, which he has previously threatened could match foreign duties placed on U.S. goods.
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