Bitcoin’s price stabilised around $95,000 amid trade negotiations and upcoming economic data releases. Altcoins like Ethereum and Solana experienced minor declines. Key reports on job openings and inflation are expected soon, which could influence market activity. Wall Street’s major indices saw slight gains, while gold prices climbed as well. Overall, Bitcoin’s future price behaviour remains uncertain with potential shifts in its market role.
Bitcoin’s price remained around $95,000 on Monday, as traders awaited updates on ongoing trade negotiations. Investors are particularly keen on incoming macroeconomic data, which could provide insight into the impacts of U.S. tariffs on inflation and economic growth. Currently, Bitcoin is seen at approximately $94,800—a minor boost of 0.4% over the past day, according to data from CoinGecko.
In the broader cryptocurrency market, altcoins experienced slight declines, with Ethereum and Solana dropping by 0.5% and 1%, settling at $1,800 and $149 respectively. U.S. Treasury Secretary Scott Bessent mentioned in a Fox News interview that the administration is negotiating bespoke trade deals with 18 key partners, although he indicated that the next decisive move rests with China.
Last week, President Trump commented on his ongoing discussions with Chinese President Xi Jinping regarding tariffs introduced earlier this month. Contrarily, Chinese Foreign Ministry spokesman Guo Jiakun stated that no consultations or negotiations on these tariffs are currently taking place, according to CNBC.
Despite a recently announced 90-day pause on implementing tariffs, the potential impact of increased business input costs could soon be reflected in economic data. Economists anticipate that the U.S. Bureau of Labor Statistics will report a decrease in job openings for March on Tuesday, while inflation growth, as indicated by the PCE Price Index, is expected to rise by 0.4% on Wednesday.
This week’s jobs and inflation figures could intensify activity within the crypto market, especially if these reports suggest that impending tariffs aren’t significantly affecting inflation or overall economic conditions. Analysts from Wintermute highlighted in a report that a taming of inflation could prompt renewed market activity.
On Wall Street, the major stock indices saw slight gains, with the S&P 500 up by 0.2% and the tech-laden Nasdaq inching up 0.05%. Meanwhile, traditional safe-haven gold prices increased by 1.8%, reaching around $3,350 per ounce, although still below last week’s peak.
Although Bitcoin’s behaviour has begun to diverge from other risk assets like U.S. equities, it’s still expected to move in line with the stock market for the foreseeable future. Expert Greg Magadini of Amberdata advises that, while crypto trades as a high-risk asset now, it may evolve into a hedge against the U.S. dollar, acting as “digital gold” amid uncertainty. “At present, crypto is viewed as a risk asset,” he stated, but he anticipates this perspective may change long-term.
