Trading Update: U.S. stock market closed, gold and silver hit new highs, Bitcoin forms support at $92,000.
A daily review of key market data and trend analysis, produced by PANews. 1. Market Observation: With the U.S. market closed for Martin Luther King Jr. Day, the focus of global markets has shifted to geopolitical tensions. U.S. President Trump announced that, in order to facilitate the acquisition of Greenland, a 10% tariff will be imposed on eight European countries, including Denmark and Norway, starting from February 1, with plans to increase the rate to 25% by June 1. Trump stated that the tariffs will remain in effect until an agreement for the 'complete acquisition of Greenland' is reached. This move has drawn strong condemnation from multiple European countries, who have labeled it as 'extortion,' and threatened retaliatory measures.
Express News | The whale '255BTCSold' has closed its long positions in major cryptocurrencies and briefly reversed to short, resulting in a total loss of 16.14 million US dollars. It has now reopened long positions in ETH and BTC.
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Express News | A major whale has incurred a floating loss of approximately $3.3 million after shorting DASH at 5x leverage and going long on DOGE at 10x leverage.
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Market Update: Gold and silver move in tandem with the A-share market, while BTC advances towards 98,000 from a base of 94,500.
Daily market highlights and trend analysis, produced by PANews. 1. Market Observation: Despite the latest core inflation data from the U.S. showing signs of cooling, dropping to a four-year low of 2.6%, this has not altered the widespread expectation that the Federal Reserve will begin rate cuts in June this year. Federal Reserve officials seem to require more evidence of a weakening labor market or sustained easing of price pressures before considering adjustments to interest rate policy, causing the initial optimism brought by the inflation data to quickly fade. As a result, U.S. stocks came under pressure while the U.S. dollar strengthened. Against this backdrop of uncertainty, precious metals are increasingly playing a prominent role as a 'hedge against systemic risk.'