Global Market Highlight
The latest economic data paints a positive picture of the U.S. economy, with job openings exceeding expectations, inflation cooling, and strong demand for 10-year Treasuries, suggesting market confidence in stable interest rates. The January 2025 JOLTS report showed job openings rising to 7.74 million, higher than forecasts, while the quits rate ticked up, signaling worker confidence.
Additionally, initial jobless claims declined, reinforcing the strength of the labor market. Inflation data was better than expected, with core CPI rising just 0.2% in February, easing from the previous month. The annual inflation rate fell to 2.8%, lower than market estimates, reducing concerns over aggressive Fed rate hikes. Producer prices were also flat, marking the slowest pace in seven months.
Meanwhile, the 10-year Treasury auction saw strong demand, with the bid-to-cover ratio rising to 2.59, and yields falling—indicating investor optimism about stable or even lower interest rates. However, the 30-year bond auction was weaker, leading to higher yields and potential pressure on risk assets. Overall, the data suggests a resilient labor market, easing inflation, and steady rate expectations, which could support market sentiment, especially in equities and crypto.
Trump’s Tariff War: Escalating Global Trade Tensions
Donald Trump’s aggressive tariff policies are escalating global trade tensions. He has imposed 25% tariffs on steel and 10% on aluminum from nearly all countries, including Canada, Mexico, and the EU. Additionally, he has targeted Chinese products like pharmaceuticals, metals, and machinery with a 10% tariff and is considering duties on agricultural products and foreign cars.
While these measures aim to reduce the U.S. trade deficit, they have triggered retaliatory tariffs from affected countries, with the EU imposing $28 billion in counter-tariffs. Trump has also doubled tariffs on Canada in response to Ontario's electricity export fees.
BTC Technical Analysis
Since March 18, Bitcoin (BTC) has been showing a gradual upward movement. The price has consistently made higher lows, indicating short-term bullish momentum. Around March 18, BTC tested the trendline but has yet to make a decisive breakout. As of today, BTC is trading at approximately $87,776, currently at resistance. A breakout above this level could signal further bullish continuation, while rejection may lead to a retest of lower support levels. The key levels to watch are the descending trendline for resistance and the rising blue trendline for support.
ETH Technical Analysis
Ethereum (ETH/USDT) is currently trading at around $2,063. The chart indicates that ETH is approaching a key resistance zone between $2,100 and $2,150, which could determine its next movement. After rebounding from the support area near $1,930, ETH has been showing signs of recovery, forming a potential higher low pattern that suggests early bullish momentum. If the price successfully breaks and holds above the resistance zone, it could pave the way for further upside movement. However, failure to break through might lead to a pullback toward the support levels around $1,930 or even lower. The market sentiment appears cautiously optimistic, with traders watching closely to see if ETH can sustain its upward trajectory.
SOL Technical Analysis
Solana (SOL/USDT) is currently trading at $143.78. The chart shows that SOL recently rebounded from a key support zone between $113, which has acted as a strong demand area. After consolidating within this range for some time, the price has started to push upwards, signaling potential bullish momentum. If SOL can sustain this breakout, the next resistance level to watch is around $176. However, if the price fails to hold above the support zone, it could lead to another retest of the lower levels. Traders will be watching for further confirmation of an uptrend or signs of rejection at higher levels.
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