Well, folks, it’s been a wild ride in the world of cryptocurrency. After a brutal Monday crash, Ethereum price has bounced back with a vengeance, gaining a whopping 12% and soaring past $2,800. But what’s behind this sudden surge? 🤔
Trump’s Trade War: The Gift That Keeps on Giving 🎁
It seems that Donald Trump’s decision to ease the tariff war has sent shockwaves of joy throughout the crypto market. I mean, who doesn’t love a good tariff delay? 🙄 The United States, Mexico, and Canada have agreed to a one-month delay on new tariffs, and the global equity and crypto market is rejoicing.
Ethereum price, along with other altcoins, has bounced back firmly, moving above the crucial support level once again. It’s like the crypto market is saying, “Hey, Trump, thanks for the tariff delay! We’ll just take this opportunity to make some money.” 💸
Ethereum Whales: The Big Spenders 🐳
Just as the Ethereum price crashed to $2,500 on Monday, the Ethereum whales came charging in to buy the market dips. It’s like they were waiting for the perfect moment to strike. Donald Trump’s DeFi project World Liberty Financial spent another 5 million USDC stablecoins to purchase an additional 1,826 ETH at $2,738.
Since January 19, the project has spent around $150 million acquiring a total of 45,405 ETH coins. However, the data from Spot On Chain shows that it is currently sitting at a nearly 25% drop in its ETH investments. Ouch! 😬
Despite the current market turbulence, the DeFi project continues to acquire more ETH. And Eric Trump is like, “Hey, it’s a great time to add ETH!” 🤷♂️
Ali Martinez: The Crypto Oracle 🔮
Popular crypto analyst Ali Martinez noted that Ethereum price needs to sustain the $2,700 to keep the bullish structure of inverse head and shoulder pattern intact. Once ETH crosses the $4,000 resistance, it can further rally to $7,000 and beyond. 🚀
Source: Ali Martinez
Donald Trump’s Sovereign Wealth Fund: A Crypto Haven? 🏦
On Tuesday, US President Donald Trump signed an executive order for the creation of a Sovereign Wealth Fund. And we’re all wondering, will it include Ethereum? 🤔 The White House Press Secretary Karoline Leavitt announced the decision, highlighting the fund’s anticipated importance in national financial planning.
Crypto Czar David Sacks: The Man with a Plan 🤝
AI and crypto czar David Sacks will be holding the first conference on Tuesday, along with other Republican lawmakers, discussing America’s leadership in the crypto space. And we’re all excited to see what he has to say. 🤔
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2025-02-04 13:35