Summary
- Cointelegraph reported that the US-China tariff agreement is favorable to the stock market.
- It stated that the reduction in import tariffs is expected to increase corporate sales, positively impacting the stock market.
- However, it mentioned that the continuous inflow of $2 billion into the US BTC ETF reduces the likelihood of Bitcoin falling.
An analysis has emerged that the US-China tariff agreement is more favorable to the stock market than Bitcoin (BTC).
On the 12th (local time), the cryptocurrency media outlet Cointelegraph reported, "The macroeconomic situation played a role in Bitcoin's temporary halt in its upward trend around $105,000," adding, "The US-China trade negotiations are seen as providing more direct and immediate benefits to the stock market than to scarce assets like Bitcoin or gold."
Furthermore, it stated, "The reduction in import tariffs is linked to increased corporate sales and improved profit margins, creating a favorable environment for the stock market," and "The lack of confidence among Bitcoin investors is related to the reduced demand for scarce assets due to the suspension of tariff measures."
It went on to say, "In fact, after the tariff agreement announcement, the price of gold fell by 3.4%," adding, "However, considering that $2 billion has flowed into the US BTC spot exchange-traded funds (ETFs) from the 1st to the 9th of this month, the likelihood of Bitcoin falling below $100,000 is low."
Finally, it added, "This indicates the influx of institutional investors, which is a positive signal for the price."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
