Bitcoin Rebounds Amid Trade Tensions; Russia Utilizes Crypto for Oil Trade
Bitcoin Rebounds Amid Trade Tensions
Bitcoin showed resilience, rebounding 4.6% to $84,519, after facing declines due to U.S. trade policies and an upcoming Federal Reserve meeting. Investors remain cautious as President Trump's tariff threats and potential reciprocal tariffs on April 2 heighten economic uncertainty, leading to a shift towards safer assets like gold.
Russia Turns to Crypto for Oil Trade
Russia is increasingly using cryptocurrencies such as Bitcoin, Ethereum, and Tether in oil transactions with China and India to bypass Western sanctions. This method facilitates currency conversion, with crypto transactions reaching tens of millions of dollars monthly, though traditional currencies still dominate.
Trump-Backed Crypto Project Raises $590 Million
World Liberty Financial, supported by Donald Trump, successfully raised $590 million in a token sale, ranking among the top-10 token raises. The project gained momentum after significant investments, overcoming initial skepticism.
Altcoins Show Mixed Performance
Most altcoins saw gains on Friday, with Ethereum rising 5%, XRP up 4%, and notable increases for Solana, Cardano, and Polygon. Meme tokens like Dogecoin and $TRUMP also saw growth, despite broader economic uncertainties.
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