- Yellen comments on challenging U.S.-China trade talks, excluding economic decoupling aim.
- Trade talks impact crypto market sentiment.
- Market cautious due to geopolitical tensions.
U.S. Treasury Secretary Janet Yellen addressed the J.P. Morgan meeting, labeling U.S.-China trade negotiations a “tough battle” without aiming for economic decoupling.
The remarks underscore difficulties in trade relations, impacting market sentiment and prompting cautious crypto inflows amidst geopolitical uncertainties.
Yellen’s Trade Stance Sends Ripples Through Crypto Markets
During a J.P. Morgan meeting, Treasury Secretary Janet Yellen described current U.S.-China trade relations as a “quarantine” and referred to upcoming negotiations as a “tough battle.” She emphasized that economic decoupling is not the negotiation goal. Janet Yellen, U.S. Treasury Secretary, “Trade negotiations with China will be a tough battle,” comparing current U.S.-China trade relations to a “quarantine.” Her goal is to manage the relationship under challenging circumstances. More information is available on the U.S.-China trade situation.
Crypto markets reacted cautiously, with minor inflows observed globally despite U.S. outflows. This indicates a sensitive response to geopolitical tensions and uncertain policy directions, especially relating to bilateral trade.
Market reactions indicate cautious sentiment, particularly with Bitcoin experiencing a $6 million outflow. Ethereum faced an ongoing decline with $26.7 million in outflows, while XRP showed resilience with $37.7 million inflows amidst geopolitical concerns.
Bitcoin Sees Uptick as Trade Tensions Impact Sentiment
Did you know? In past U.S.-China trade tensions, Bitcoin often served as a hedge, leading to increased flows during periods of significant geopolitical strain.
According to CoinMarketCap, Bitcoin’s current price is $91,602.51, with a market cap of $1.82 trillion and a 24-hour trading volume of $45.60 billion. The largest crypto asset sees a 5.24% price increase over the past 24 hours.
Coincu research team suggests potential impacts on the financial landscape include cautious institutional engagement and fluctuating liquidity, especially under geoeconomic uncertainties. Historical trade tensions underscore investor appetite for crypto assets as alternative hedges during macroeconomic instability.
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