Out and Loud
Quick hits
- Bitcoin took a leap, passing $95,000 on Tuesday.
- Trump is gearing up for a rally in Michigan, prepping to hype his 100-day-in-charge milestone.
- Trump and Howard Lutnick chat about trade deals, tiptoeing around the subject like two high-stakes cat-and-mouse players.
Decrypt's Scene Unfolding
U.S. President Trump's potential agreement with India on trade issues boosts Bitcoin's value, suggesting an uptick in the cryptocurrency market.
Feast your peepers on the latest Bitcoin action as it attempts to conquer new heights, with a taste of the forthcoming political rally in Michigan with our very own Commander-in-Chief.
Bitcoin was marching forward at around $95,400 early Tuesday morning, bagging a minuscule 0.5% increase over the recent day, according to crypto data provider, CoinGecko. Major altcoins, like Ethereum and Solana, were more than eager to join the party, with Ethereum swinging higher by 3% to hit $1,830, while Solana climbed 2% to reach $150.
The Great Pumpkin himself will grace the people of Macomb County, Michigan, at a rally set for 6 p.m. ET, boasting a "celebration of the most successful and monumental first 100 days of any administration in history," as reported in the prestigious Detroit Free Press.
Bitfinex analysts shed some light on Trump's upcoming speech, stating that it will garner "outsized attention," as investors examine the president's affirmation or disdain for assets like Bitcoin.
"Even without hard policy action, a tone that solidifies institutional legitimacy or economic nationalism through crypto could further embed Bitcoin in the macro-political narrative," the analysts wrote. This could manifest in explicit mentions of a strategic cryptocurrency reserve or by framing Bitcoin as part of America's long-term financial infrastructure.
On his personal social media platform, Truth Social, Trump dropped a series of self-accolades, including compliments from the Department of Education and House of Representatives Speaker, Mike Johnson. The decorated populist has been focusing on reshaping global trade, rather than patting himself on the back like some sort of shameless peacock.
The United States finally reached a trade deal with a mystery nation sacked by Trump's "reciprocal" tariffs, claimed U.S. Commerce Secretary, Howard Lutnick, on Tuesday's episode of CNBC's 'The Exchange.' However, Lutnick kept mum on the diplomatically-awkward detail that the nation's prime minister and parliament were still mulling over the agreement.
Stepping out of the White House, Trump expressed optimism towards negotiation efforts with India, hinting that a deal is in the works.
"Crypto trading will cling to Trump-led headlines like a barnacle on the hull of a ship, with Bitcoin in tow," predicted David Lawant, head of research at crypto brokerage, FalconX. "However, as the new day dawns, I anticipate the true impact of tariffs on inflation and economic health to emerge front and center."
As Trump's tariffs set economists on edge, they contemplate whether these policies will inflame inflation and slow down economic growth. Although the tariffs' impact hasn't yet shown up in the data, the Federal Reserve's preferred inflation gauge is due for a refresh on Wednesday.
Daily Spill Newsletter
Enrichment Data:
Donald Trump's trade policies and off-the-cuff remarks about Bitcoin can shape the performance of the cryptocurrency market in varied ways. Here's the lowdown:
Trade Policy Impact
Trump's trade policies, which revolved around tariffs and renegotiating trade agreements during his presidency, do not directly impact cryptocurrencies. However, they can create economic instability and investor uncertainty, leading investors to flock towards safe-haven assets like Bitcoin as a refuge or hedge against inflation or currency devaluation.
Statements on Bitcoin Impact
Trump's opinions about Bitcoin have the potential to move the cryptocurrency market. Here's a breakdown:- Criticism: Trump has previously dismissed Bitcoin, branding it a scam. Negative comments from influential figures can sour investor sentiment and tank Bitcoin's price [2].- Support: Positive remarks from influential figures can cause a rally in the market, as investors become more bullish and confident in the cryptocurrency's potential. [2]- Market Sensitivity: The crypto market is hyper-sensitive to public declarations from influential figures, leading to volatility and rapid price fluctuations [2].
Recent Developments
In April 2025, a bill related to DeFi and crypto regulations was signed into law, primarily focusing on regulatory relief for brokers, rather than an immediate impact on Trump's statements about Bitcoin. However, regulatory changes or developments can indirectly affect the cryptocurrency market by reshaping how Bitcoin is utilized and traded.
In a nutshell, Trump's trade policies have a more subtle impact on cryptocurrencies, while his unguarded Bitcoin statements can cause rapid price swings, underscoring the market's susceptibility to public opinions.
- Bitcoin's value reached $95,400 early Tuesday, a 0.5% increase according to CoinGecko, with major altcoins like Ethereum and Solana also showing significant growth.
- The crypto market closely watches statements from influential figures, as even implicit support or disdain can cause price swings and market rallies.
- Trump's upcoming rally in Michigan and his comments on cryptocurrency could further embed Bitcoin in the political narrative, potentially leading to strategic discussions about cryptocurrency reserves or long-term financial infrastructure.
- As Bitcoin attempts to surpass new heights, it shares the spotlight with Trump's 100-day-in-charge celebration in Michigan.
- Trump's conversations about trade deals with Howard Lutnick have had an indirect impact on cryptocurrencies, though they haven't yet shown up in concrete data.
- Regulatory changes or developments, like the DeFi and crypto regulations bill signed in April 2025, can reshape the cryptocurrency market indirectly by altering usage and trading patterns.
- Trump's previous dismissal of Bitcoin as a scam has the potential to dampen investor sentiment and drive down Bitcoin's price, while positive comments could spark a market rally.
- The Federal Reserve's inflation gauge will be refreshed on Wednesday, as economists ponder the potential impact of Trump's tariffs on inflation and economic growth.
- Crypto trading is likely to cling to headlines related to Trump, with Bitcoin leading the pack as it follows the impact of Trump-led news on trade policies and cryptocurrency markets.
