Trump Folds, Won’t Play Hardball With China; Best Cryptos To Buy Now As The Bull Market Starts
US stocks and crypto prices are rallying sharply after Donald Trump signalled a surprise de-escalation in the China trade war, announcing plans to reduce tariffs during an Oval Office address.
The US President stated that tariffs on Chinese imports won’t remain anywhere near the current 145%, revealing they will be cut substantially.
In a marked softening of his stance on China, the usually combative Trump said he won’t “play hardball,” adding, “we’re going to be very nice.”
Major US stock indices — S&P 500, Nasdaq and Dow Jones — are up by nearly 1.5% after hours. The Bitcoin price hit $94,000, up 25% from its $75,000 macro bottom earlier this month.
Altcoins are soaring as well, with Sui and Solana meme coins — Fartcoin, Popcat and Bonk — among the top performers.
Trump Pivots: Is The Crypto Bull Market Back On?
The bond market is king. Rising treasury yields forced a “Trump put” earlier this month when Trump announced tariff exemptions on electronics and later, a 90-day pause on reciprocal duties on all countries, except China.
However, with no trade agreements emerging over the Easter break, long-term Treasury yields continued their upward climb.
Unsurprisingly, the Trump administration is in damage control mode once again. Earlier on Tuesday, Trump’s Treasury Secretary stated that he anticipates a significant de-escalation between the US and China, calling the standoff between them “unsustainable”.
Later, the US President dropped his tough act against the Asian superpower, claiming that he wouldn’t play hardball with China.
In another major policy shift, Trump said he has no plans to fire Fed Chair Jerome Powell — though legal experts say he likely couldn’t do so anyway.
The President’s pivot appears to be aimed at providing much-needed respite to the bond and equities markets. Crypto assets are soaring as well, with the Bitcoin price hitting $94k in a stunning show of strength.
While a short-term pullback is certainly possible, prominent analysts are anticipating a bullish continuation, owing to the surging global liquidity, as measured by the Global M2 money supply.
Indeed, Global M2 accurately predicted that Bitcoin would bottom between April 7th and 9th — nearly three months in advance. It now indicates that BTC will climb to $140,000 in the upcoming months, confirming it as one of the best cryptos to buy now.
Best Cryptos To Buy Now
Besides Bitcoin, several popular altcoins have secured explosive breakouts or are very close to it.
For instance, XRP is up 7% but remains near its range lows — a setup that some analysts believe could make it one of the top performers if the crypto bull market gathers steam. It is currently in a resistance zone — however, a breach of the $2.50 resistance could pave the way for new all-time highs.
Similarly, Sui is one of the best cryptos to buy now after it breached its macro descending trendline. The altcoin could face resistance at $2.80 — however, $3 appears to be imminent.
Solana meme coins are in high demand. Fartcoin finally flipped the $0.97 resistance and traded as high as $1.20 on Tuesday.
However, Popcat and Bonk are at much earlier stages in their rallies, making them superior investments over $FARTCOIN in the short term. Nevertheless, Fartcoin remains one of the best cryptos to buy for the long term.
New meme coins are also in high demand. With the Bitcoin price expected to rally hard in the coming months, BTC Bull is seeing significant interest in its presale, raising nearly $5 million in its ICO.
This unique Bitcoin-themed meme coin has a simple selling point — BTCBULL holders will receive free Bitcoin and benefit from token burns and airdrops when the Bitcoin price hits certain set milestones. The first token burn is scheduled at $125,000, and the first Bitcoin airdrop will be triggered at $150,000.
Several prominent analysts are eyeing up to 100x returns from it.
Meanwhile, Solaxy (SOLX) has raised over $31 million in its ICO behind strong whale demand, all despite the broader market uncertainty.
Despite its stellar presale performance, experts believe SOLX is highly undervalued. It is, after all, the first prominent Solana Layer-2 coin. The top Bitcoin and Ethereum L2s have billion-dollar valuations.
Unsurprisingly, many are calling it the next 10x crypto.
