Bitcoin, mixed news

Trump "Will Apply Announced Tariffs as of 9th" Announcement
BTC and Cryptocurrencies Decline in Morning Following Trump's Announcement
"SEC to Simplify Altcoin ETF Approval Process" News Announced
Afternoon Sees Rise Led by Altcoins on 2nd

The cryptocurrency market, including Bitcoin (BTC), showed a mixed trend on the 2nd with various factors at play. Donald Trump announced that he will not extend the tariffs as of the 9th after visiting Florida. The market's initial hope turned into fear, leading to morning buying and a decline in the cryptocurrency market. However, news that the U.S. Securities and Exchange Commission (SEC) is considering simplifying the approval of cryptocurrency spot ETFs led to a rise in altcoins. Bitcoin hovered around $106,000, while altcoins like Solana (SOL), XRP, ADA, and Doge, which are potential spot ETF approval candidates, saw increases. ◇Bitcoin = As of 4 PM on the 2nd, Bitcoin's price on Upbit was 146.44 million won. Bitcoin's dominance was 65.49%. According to on-chain analysis platform Sigbit, the long and short betting ratio in the Bitcoin futures market was 43.21% and 56.79%, respectively. Experts remained optimistic about Bitcoin from a long-term perspective. Valentine Fournier, senior research analyst at cryptocurrency analysis firm BRN, said, "Without a new catalyst, Bitcoin may find it difficult to break $110,000," but added that "while short-term momentum has weakened, the acceleration of Bitcoin purchases in corporate finance suggests that the medium-term bullish signal remains valid." Market analyst Scott Melker also stated on his SNS that "Bitcoin is establishing itself as a political uncertainty and inflation hedge" and that "as macroeconomic instability increases, long-term demand will also grow." ◇Rising Coins = As of 4 PM on the 2nd, StormX (STMX) recorded the largest increase, rising by approximately 136%. The surge in StormX is attributed to a significant increase in trading volume due to delisting from Upbit. Upbit had previously announced that DAXA member exchanges would end support for StormX on the 20th of last month. StormX is a cryptocurrency created to integrate the global freelance market, aiming to connect those needing work with those seeking work, reducing intermediary fees and providing accurate services. StormX tokens can be earned as rewards through participation in jobs or work on StormX Market. ◇Fear and Greed Index = The digital asset Fear-Greed index provided by Alternative is at 63 points, entering the 'Greed' stage. This stage indicates increased price volatility and trading volume, with a higher likelihood of price increases. Caution is advised for potential short-term peaks. The Relative Strength Index (RSI) provided by Sigbit is 50.7, indicating a 'neutral' state. RSI measures the relative strength between upward and downward price pressures and indicates overbought or oversold conditions. Reporter Seung-won Kwon ksw@blockstreet.co.kr