currency

4E: Weak consumer confidence reignites economic concerns, US stock market gains slow down, cryptocurrency market fluctuates upward

ChainCatcher news reports that, according to 4E monitoring, Trump may ease tariff plans, somewhat alleviating market anxiety over a full-blown trade war, supporting the continued rebound of U.S. stocks. On Tuesday, the three major U.S. stock indices rose slightly, continuing Monday's gains. The S&P 500 rose by 0.16%, the Dow Jones increased by 0.01%, and the Nasdaq gained 0.46%. Most large tech stocks were up, with Tesla rising over 3% for five consecutive days, accumulating a total increase of 28%.The cryptocurrency market is fluctuating upward, with Bitcoin retreating after reaching a high of $88,765 on Monday, and last night it broke through $88,000 again, showing strong upward momentum. As of the time of writing, it has slightly retreated, hovering above $87,000, with a 24-hour increase narrowing to 0.8%. Most sectors in the market are rising, with the Meme sector continuing to perform strongly. Current market sentiment is optimistic; historically, risk assets tend to perform best in the second quarter, especially in April each year.In the forex and commodities sector, the latest economic data showed weakness, causing the dollar index to turn down after reaching a nearly three-week high, ending a four-day winning streak; oil prices fell slightly due to the impact of the Russia-Ukraine agreement; with a poor economic outlook, spot gold rose by 0.31%, reversing a trend of three consecutive days of decline.The U.S. Consumer Confidence Index for March, released last night, fell below expectations, dropping to its lowest level in four years, reflecting consumer concerns about the economic outlook. The disappointing data significantly slowed the upward momentum of U.S. stocks, with the three major indices narrowly maintaining their gains. As the April 2 effective date for reciprocal tariffs approaches, the market is closely watching how related policies will affect economic growth and inflation.

The cryptocurrency sector saw a general rise, with the Meme sector leading for two consecutive days, and the AI sector increasing by over 6%

ChainCatcher news, according to SoSoValue data, the encrypted sector has risen broadly, with the Meme sector leading for two consecutive days, and the AI sector increasing by over 6%. Among them, the Meme sector has seen a 24-hour increase of 7.18%, with Shiba Inu (SHIB), Dogecoin (DOGE), and Pepe (PEPE) rising by 6%, 8.24%, and 10.10% respectively. The AI sector rose by 6.15%, with Bittensor (TAO), Render (RENDER), Fetch.ai (FET), and Worldcoin (WLD) increasing by 4.92%, 8.20%, 7.21%, and 12.25% respectively.In addition, Bitcoin (BTC) rose by 1.78%, breaking through $88,000 at its peak, while Ethereum (ETH) increased by 4.04%, returning above $2,000. Notably, MAG7.ssi rose by 3.17%, DEFI.ssi increased by 4.46%, and MEME.ssi rose by 6.91%.In other sectors, the RWA sector rose by 5.72% in 24 hours, with Pendle (PENDLE) increasing by 9.66%; the DeFi sector rose by 5.15%, with Ethena (ENA) increasing by 7.38%; the Layer2 sector rose by 3.95%, with Arbitrum (ARB) and ImmutableX (IMX) increasing by 7.16% and 7.39% respectively; the Layer1 sector rose by 3.58%, with Sonic (S) increasing by 11.69%; the CeFi sector rose by 2.32%, with Cronos (CRO) increasing by 23.36%; and the PayFi sector rose by 1.28%.The cryptocurrency sector index reflecting historical market trends shows that the ssiMeme, ssiRWA, and ssiAI indices had the highest increases in 24 hours, rising by 7.52%, 6.62%, and 6.04% respectively.

4E: Trump's stance on "reciprocal tariffs" softens, U.S. stocks and cryptocurrency markets rise

ChainCatcher news, Trump plans to take a more targeted approach to the "reciprocal tariffs" set to launch on April 2, alleviating market concerns that the escalation of his trade war could worsen inflation and drag down the economy. Meanwhile, the U.S. services PMI rebounded, driving an overall improvement in PMI. The positive news boosted U.S. stocks across the board, with the S&P 500 rising 1.76%, the Dow up 1.42%, and the Nasdaq climbing 2.27%. Major tech stocks generally strengthened, with Tesla soaring over 11.9%, marking the largest single-day gain since the day after the election.The recent trend in the cryptocurrency market has aligned with U.S. stocks. Strategy boosted market confidence by purchasing 6,911 bitcoins for $584.1 million last week. Bitcoin surged yesterday, reaching as high as $88,765 after the U.S. stock market opened, and has slightly retreated to $87,030 at the time of writing, with a 24-hour increase of 1.7%. Among the top ten mainstream coins, SOL showed even stronger gains, currently reported at $140 with a rise of 5.17%. Most sectors in the market rose, with the Meme sector leading with a 7% increase.In the forex and commodities sector, investor concerns over Trump's tariff plan on April 2 have eased, with the dollar index up 0.25% and U.S. oil rising 1.2%; the strengthening dollar, combined with gold prices at historical highs, led investors to take profits, resulting in a 0.30% drop in spot gold.Trump will soften his aggressive stance on imposing tariffs on trade partners, while other macroeconomic indicators have also pointed in a more favorable direction over the past few days, lifting market optimism. Investors are currently closely monitoring Trump's latest "reciprocal tariffs" plan to assess its potential impact on economic growth and inflation.
ChainCatcher Building the Web3 world with innovators