- Arthur Hayes urges investors to “buy everything” as US-China trade tensions ease.
- US and China agree to slash tariffs for 90 days, boosting global market confidence.
- Bitcoin crosses $105K as crypto markets respond positively to improved trade ties.
Arthur Hayes, the chief investment officer of Maelstrom and former CEO of BitMEX, has expressed optimism about the cryptocurrency market. He posted on X (formerly Twitter) that traders should “buy everything,” signaling a bullish outlook. Further, he commented after trade tensions eased partly because of a major tariff deal.
US and China Slash Tariffs for 90 Days
Over the past few days, both nations agreed to lift tariff rates for 90 days. Under the agreement, the United States will cut its import taxes for most goods from China from 145% to 30%. China said it will reduce levies on American goods from 125% to 10% in response. Such an agreement is the result of many months of trade disputes that destabilized markets worldwide. Therefore, investor mood became more positive, which lifted the value of high-risk assets, including cryptocurrencies.
Last week, improvements were also noted in the global economic backdrop outside of this agreement. As an example, President Donald Trump revealed a new trade agreement with the United Kingdom. In addition, the OCC, a U.S. government financial supervisory agency, delivered a major statement. According to the OCC’s announcement, national banks are permitted to participate in buying and selling cryptocurrencies on behalf of their customers. In addition, banks are permitted to hold customer cryptocurrencies through external custodial services. This decision is likely to bring in more institutional investors to cryptocurrencies.
The Ministry of Commerce of China said that both sides will hold off on the 24% tariffs for 90 days. A 10% tariff will continue to remain, despite the suspension. At the same time, the United States will no longer enforce additional tariffs created by executive orders from early April. Consequently, China has decided to halt the rush of non-tariff actions it put in place from April 2.
Bitcoin Surges Past $105K as Tariff Talks Progress
Analysts believe that this new development exceeded earlier expectations. Analysts had earlier suggested future tariff reductions might be as big as 80% or 54%. Surprisingly, the new tariffs are much lower, standing at 30% for the U.S. and 10% for China. Market trust has risen as a result of the bigger-than-predicted tariff reduction.
Because of this development, the cryptocurrency market showed optimism. By the data provided by CoinMarketCap, the total value of cryptocurrencies increased by about 1% during this time. Bitcoin was above $105,100, and Ether was above $2,600. The price of major altcoins XRP and ADA rose as well, both trading above their previous levels.
Both the United States and China have agreed, according to their statement, to dedicate the next three months to further talks. Both countries are working to settle their disputes and halt the likelihood of future commercial disagreements. A structured process will be put in place to help maintain discussions on economic and trade issues.
Although this agreement represents an important move towards stability, uncertainties persist. Both nations are uncertain regarding the form a final agreement should take to be deemed acceptable. China has previously pushed for the complete termination of tariffs the U.S. has set this year. It is uncertain whether such a demand will be met.
Arthur Hayes’ optimistic crypto views align with the better global economic conditions now existing. Improved bilateral trade conditions, together with improved regulatory frameworks, are helping to restore investor optimism. When market uncertainty diminishes, cryptocurrencies could receive even greater attention and investment from an expanding community.
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