Ether posted an impressive 29% gain between May 8 and May 9, likely marking the end of a 10-week bear market that bottomed out at $1,385 on April 9. This sharp move triggered the liquidation of over $400 million in short ETH futures positions, suggesting that whales and market makers were caught off guard.
Japanese Prime Minister Shigeru Ishiba reiterated that he will aim for the elimination of all tariffs in trade negotiations with the United States. Ishiba said that “discussions have gradually come together,” and that Tokyo’s relationship with U.S. President Donald Trump is “surprisingly good.”
Gold extended losses and fell more than 1% after U.S. President Donald Trump announced a trade deal with the United Kingdom, raising hopes of such deals with other countries.
U.S. President Trump and British Prime Minister Starmer announced a “breakthrough deal” on trade. The deal leaves in place a 10% U.S. tariff on goods imported from the UK, while Britain agreed to lower its duties to 1.8% from 5.1% and provide greater access to U.S. goods.
Bitcoin topped $100,000 for the first time since early February, bolstered by a wide-ranging deal between the United States and the United Kingdom in a sign that perhaps U.S. President Donald Trump’s trade war with the rest of the world is easing.
World stocks lost ground while U.S. Treasury yields had mixed reactions and the dollar gained some ground in choppy trading after the Federal Reserve left interest rates unchanged and warned of higher inflation and labor market risks.
