The cryptocurrency market rebounded after a sale that has led its global valuation to the lowest since November 2024.
As of March 6, the global market capitalization of cryptography had reached 3.10 billions of dollars, up 5% in the last 24 hours. The upper parts, the bitcoin (BTC) and the ether (ETH) led the intraday rally with daily gains of 5.6% each.
Cryptographic market performance January 30. Source: Corner360
Let’s look at the best catalysts that lead to the rebound in the cryptography market today.
Bitcoin leads a rebound in the delay in Trump automotive prices
The resumption of today’s cryptography market aligns closely with similar rebounds on the US stock market, because the delay in Donald Trump’s price has attenuated investor concerns, Bitcoin leading the higher market.
What to know:
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On March 5, US President Donald Trump temporarily interrupted 25% prices on car imports from Canada and Mexico.
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Initially confirmed earlier this week, these prices had sparked fears of a trade war, wrapping the world’s financial markets and causing risk assets such as cryptocurrencies.
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Bitcoin, for example, fell below $ 90,000 on March 3 in the middle of this uncertainty.
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However, following negotiations with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum, Trump agreed 30 days, softening tensions.
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This stay stimulated a feeling of risk, Bitcoin goes up above $ 92,000 and ether exceeding $ 2,300.
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Analysts suggest that the abolition of disruptions of immediate trade has reduced macroeconomic pressure, allowing the crypto – a sector sensitive to such changes – to recover and rally.
The feeling of risk increases the cryptography market
The current crypto rally reflects the force observed in American actions.
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The large S&P 500 market and the NASDAQ focused on technology also increased by 1.5% and 1.2%, respectively, at the end of the New York negotiation session on March 5.
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Crypto -related stocks have also increased, the Crosto Exchange Coinbase (corner) increasing by 4.5% and the strategy (MSTR) earning almost 12%.
24 hours a day, American shares Source: financial visualizations
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The US dollar index (DXY) has been at its lowest level since the beginning of November and has been down more than 5.5% compared to its January 13 peak by 110.17.
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The expectations of the Fed rates go back to prices more rate drops in 2025, participants in the market betting on 52% of the chances of a decrease of 25 base points in June.
The target rate probabilities of the Fed for the FOMC meeting on November 7. Source: CME Group
“Looking at the trend, the feeling seems to move towards more relaxation, possibly motivated by economic data, inflation trends and fed comments, the commentator of the Walter Bloomberg market said In an article on March 5 on X.
“The market initially made a price in less cuts but has now increased above – Fed follow -up?”
In relation: XRP, Sol or ADA belongs to an American cryptography reserve?
Crypto market technical rebound
From a technical point of view, the gains in the today’s cryptography market are part of a rebound that has started a support confluence comprising the psychological level at 2.80 billions of dollars and the simple 200 -day mobile average (SMA).
Total crypto capilla. Source: Cointelegraph /Tradingview
Total market capitalization, currently at 2.95 billions of dollars, seeks to exceed the resistance zone between 3.1 billions of dollars and 3.28 billions of dollars, where the SMAS at 100 days and 50 days are sitting.
If this happens, this would signal an bull escape from the current tendency phase, the bulls targeting peaks of all time over 3.69 billions of dollars.
The daily relative force index, or RSI, went from conditions of occurrence to 25 on February 20 at the current value of 47, suggesting that the bullish impulse accumulates.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
