10x Research: Recent Market Optimism Fueled by Donald Trump’s Address and Federal Reserve Decisions

A specialized organization that delves into digital assets, catering to wealth managers and crypto service providers, 10x Research has shared valuable insights on the cryptocurrency market in its latest evaluations.

The analysis reveals that the BTC-USD trading pair is currently below both the 7-day and 30-day moving averages, hinting at a bearish trajectory, despite a modest 1-week increase of 0.3%. Bitcoin rocketed past $86,000 after President Trump’s much-anticipated address at the Digital Asset Summit, which stimulated expectations about a significant update in the cryptocurrency space and increased market optimism. bearish trend Furthermore, the report emphasized that the US Federal Reserve's decision to decelerate its rate hikes contributed positively to this momentum, favoring riskier assets such as Bitcoin. Additionally, MicroStrategy's investment of $10.7 million in Bitcoin underscored a robust corporate confidence, further bolstering the upward price movement.

The report also pointed out that a leaked document unveiling Russia's use of cryptocurrency to circumvent sanctions alongside China and India boosted the bullish sentiment in the market. quantitative tightening Bitcoin Falls to $84,000, While Cryptocurrency Market Experiences Capitalization and Trading Volume Decline

As of the latest update, Bitcoin is sitting at $84,119, which marks a 2.03% decrease over the last 24 hours. During this timeframe, it peaked at $86,444 and dipped to $83,709. The market capitalization of the cryptocurrency has also contracted by 1.92%, now totaling $1.67 trillion.

Currently, Bitcoin’s market share holds steady at 60.61%, showing little variation from the previous day.

At the same time, the total global cryptocurrency market cap is resting at $2.75 trillion, reflecting a 2.08% drop within the past 24 hours. The overall trading volume across the cryptocurrency sector has dwindled by 27.73% in the same timeframe, amounting to $75.71 billion, based on CoinMarketCap’s statistics. Bitcoin Please bear in mind that the information on this page is not intended as legal, tax, investment, or financial advice of any kind. It is crucial to invest only what you can afford to lose and to seek independent financial counsel if you have any uncertainties. For more information, we recommend checking the terms and conditions as well as the help and support sections offered by the provider or advertiser. MetaversePost is committed to delivering accurate and impartial reporting, but market conditions can change unexpectedly.

Alisa, an enthusiastic journalist at Cryptocurrencylistings, dives deep into cryptocurrency, zero-knowledge proofs, investments, and the dynamic Web3 universe. With her knack for spotting emerging trends and technologies, she provides thorough coverage that keeps readers engaged and informed in the constantly changing digital finance landscape.