American Crypto Market Sees Uptick as Tariff Reduction Boosts Bitcoin

By James Van Straten (All times ET unless specified otherwise) The latest tariff developments are dominating global economic headlines, with bitcoin (BTC) momentarily surpassing $105,000 after the unexpected announcement that the U.S. will decrease tariffs on Chinese goods to 30% from 145% for a 90-day period. In response, China will reduce tariffs on U.S. goods to 10% from 125% over the same timeframe. Meanwhile, Ether (ETH) is experiencing its most significant monthly gain since November, with an increase of over 40% since the beginning of May. The ETH/BTC ratio has risen to 0.02440, its highest level in nearly three months, indicating renewed investor appetite for risk-on assets. Additionally, Nasdaq futures saw a jump of more than 3% following the tariff news, further bolstering positive market sentiment. The U.S. Dollar Index (DXY) has moved above 101, while WTI crude oil also rallied. In contrast, gold has declined by over 3%, approaching a 10% drop from its all-time high. Investors are now focusing on Tuesday's inflation report, anticipating that year-over-year headline inflation for April will remain steady at 2.4%. Strategy (MSTR) recently held its annual meeting, providing updates on its Business and Artificial Intelligence (BI/AI) software initiatives and reaffirming its commitment to corporate bitcoin adoption. Executive Chairman Michael Saylor emphasized Strategy's leadership as the premier public bitcoin treasury, currently holding over 555,555 BTC. Saylor reiterated the company's unwavering commitment to further bitcoin accumulation. Strategy plans to continue leveraging AI to enhance operational efficiency and explore innovative strategies for expanding its BTC holdings. Key Events to Watch Upcoming Conferences CoinDesk's Consensus is scheduled to take place in Toronto on May 14-16. Use the code DAYBOOK to receive a 15% discount on passes. Market Analysis By Shaurya Malwa Derivatives Positioning Market Trends Bitcoin Statistics Technical Analysis Crypto Equities ETF Flows Spot BTC ETFs: Spot ETH ETFs Source: Farside Investors Overnight Market Movements Chart of the Day While You Were Sleeping In the Ether CORRECTION (May 12, 14:27 UTC): Corrects BTC-ETH ratio in Bitcoin Statistics section due to a misplaced decimal point.