EURUSD, Bitcoin Outlook: Rebounds Ahead of Trade Wars
Key Events:
- Eurozone and UK reinforce support for Ukraine amid US-Russia-Ukraine peace deal negotiations
- Bitcoin rebounds above 92,000 following Trump’s mention of a strategic crypto reserve
- Trade war risks and key economic data releases this week fuel market uncertainty and volatility risks
Geopolitical Developments: Eurozone and Ukraine’s Strategic Moves
Following Trump and Zelensky’s dispute on Friday, which disrupted a proposed peace deal involving Ukraine’s mineral exports in exchange for US security guarantees, the EU and UK held an emergency security summit in London to reaffirm their support for Ukraine.
In response to Trump’s diplomatic stance with Putin, the EU has fast-tracked its defense initiatives, aiming to enhance security and establish at least a temporary ceasefire to facilitate further negotiations.
Bitcoin Surges Above 90,000 on Strategic Crypto Reserve Plans
In addition to trade war risks and geopolitical tensions in the first week of March, Trump’s announcement of a strategic crypto reserve—which includes Solana, XRP, Cardano, Bitcoin, and Ethereum—triggered a significant rally in the crypto market.
Interestingly, around this time last year, Bitcoin was also rallying back toward its previous record highs near 70,000. However, upside potential remains uncertain, as trade war risks and economic concerns persist. If peace negotiations progress and economic indicators align positively, Bitcoin could challenge its previous all-time highs or even set new records in 2025.
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