Cardano is gradually approaching a major support zone near $0.62, with several technical indicators aligning for a potential bounce. However, a lack of trading volume leaves bulls awaiting stronger confirmation. Cardano’s (ADA) has been in a slow decline over the past several sessions. Traders are now closely monitoring the $0.62 region, which serves as a critical level of confluence, incorporating Fibonacci support, historical horizontal support, and value area overlap, making it a potential pivot point if sentiment shifts. Key technical points Critical Support Zone: The $0.62 area includes the 0.618 Fibonacci retracement, daily horizontal support, and value area overlap, forming a strong technical base. Oversold RSI Signal Building: The Relative Strength Index is nearing oversold territory, suggesting a potential reversal may be near if price continues to decline. Volume Still Dry: Despite approaching support, there’s no significant increase in trading volume, limiting confidence in any immediate bounce. ADAUSDT (4H) Chart, Source: TradingView Detailed analysis Price action recently broke below the point of control and is now trending toward the value area low. While this lower zone has provided temporary support, overall market structure remains weak, and momentum continues downward. The $0.62 support stands out due to its convergence with the golden pocket of the current retracement move. If price reaches this level while RSI enters oversold conditions, it would signal a potentially favorable setup for a technical bounce. However, for any bounce to gain traction, confirmation through increased volume is essential. So far, low volume has made the correction appear slow and unconvincing, with little evidence of strong buyer interest. You might also like: Bitcoin consolidates below key resistance as lower timeframe trend develops Past retracements have also lacked significant bullish follow-through, which raises the stakes for how ADA reacts at this support level. A strong defense of $0.62 with rising volume could initiate a move back toward the upper range. Conversely, a clean break below this level could trigger further downside momentum. What to expect in the coming price action Cardano is approaching a critical decision point. A confirmed bounce at $0.62, supported by an oversold RSI and a noticeable uptick in volume, would support a near-term recovery. If this level fails, the door opens for an extended decline, especially if accompanied by an increase in bearish volume. Read more: Dow Jones drops 400 points as tariffs are back in focus
As XRP maintains a steady position around the $2.20 mark, investor sentiment remains optimistic, bolstered by a series of bullish predictions from various market analysts. While these projections have reignited interest in the digital asset, they have also highlighted a common concern, which is that many investors may lack a clear plan for exiting their positions when the price rises significantly. XRP Price Forecasts Inspire Renewed Interest Several analysts have shared their views on XRP’s potential, offering a range of long- and short-term expectations. Ryan Lee, Chief Analyst at Bitget, projected that XRP could reach $10 by 2030. Offering a more ambitious timeline, market analyst XForceGlobal believes this $10 price point could be achieved within the current cycle. Other figures in the community have issued even higher forecasts. “The Modern Investor” recently suggested XRP may hit $15, while analyst Steph pointed to a potential rise to $30, citing a double bottom chart pattern, often interpreted as a sign of a coming bullish reversal. While these predictions generate excitement, they also introduce the risk of emotionally driven decisions. Investors who do not plan their exits in advance could either sell too early and miss greater profits, or hold on too long and watch gains evaporate. Exit Strategy Proposed by XRP Community Figure To address this challenge, an XRP community analyst known as “XRP Investing” presented a phased approach designed to help investors gradually secure profits while managing risk as the price increases. The strategy is based on a simulated $10,000 investment at $2.20 per token, which equals 4,545 XRP. IF XRP STARTS FLYING TOWARD $10, $15… EVEN $30—MOST HOLDERS WILL HAVE NO IDEA WHAT TO DO. No plan = missed profits or panic selling. Here’s one example of a staged exit strategy to help you start thinking. pic.twitter.com/vQ7ytMEFPv — All Things XRP (@XRP_investing) May 4, 2025 The first suggested price target is between $3.50 and $4.00, where selling 20% of the holdings could yield a return of approximately $3,636. This range reflects historical resistance and could be reached following favorable regulatory developments or increased speculation over XRP-related ETFs. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 A second price band of $5.00 to $6.00 is identified as the next opportunity to take profits. Selling 25% of the holdings at this stage could bring in around $6,248, particularly if momentum is driven by institutional adoption or further ETF-related progress. As the price climbs to the $10.00 to $12.00 range, the analyst recommends selling 30% of the holdings. This level may coincide with broader market hype and mass adoption, potentially leading to returns of about $14,993. For prices exceeding $20.00, the final phase involves selling the remaining 15% to 20% of the portfolio. Should XRP reach this speculative high, investors could realize a profit of roughly $13,640, especially if the token solidifies its role in global payments. In total, this phased strategy could deliver profits of about $38,500 while retaining 455 XRP for possible future gains. Tailoring Strategy to Individual Needs Although the proposed model provides a structured guideline, XRP Investing emphasized that it is meant to serve as a reference rather than a fixed formula. He encouraged investors to develop personalized strategies that align with their financial objectives, time horizons, and risk appetite. The key, he noted, is to avoid impulsive decisions during volatile market movements by having a clear, pre-established plan. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Analyst Outlines Strategic Exit Plan for XRP Investors appeared first on Times Tabloid .
Citi announced a new partnership with Switzerland-based SIX Digital Exchange (SDX) on Tuesday to tokenize companies on the digital exchange. The collaboration, revealed at the Point Zero Forum in Switzerland, seeks to address longstanding inefficiencies in the private market ecosystem for both issuers and investors. Citi and SDX are teaming up to tokenize late-stage private shares, aiming to bring efficiency and access to the private markets sector pic.twitter.com/S2DCh85e0t — Cam (@CryptoNews_eth) May 6, 2025 Under the agreement, Citi will serve as both a digital custodian and tokenization agent on SDX’s regulated digital Central Securities Depository (CSD) platform. Together, the firms are developing a scalable, compliant solution set, scheduled to launch in the third quarter of 2025. The offering will initially focus on tokenizing late-stage pre-IPO equity, making these otherwise illiquid assets more accessible to institutional and eligible investors across the globe. For issuers, the initiative provides a compliant and efficient mechanism to enhance liquidity for early backers and employees, while preserving control over their cap tables. For investors, it marks a step forward in the democratization of access to high-growth, venture-backed private companies—traditionally out of reach due to high barriers to entry and opaque processes. The partnership will combine Citi’s global securities services expertise and client reach with SDX’s regulatory-grade digital infrastructure. “We are excited to welcome Citi to the SDX platform,” said David Newns, Head of SDX. “This project stands out by leveraging our regulated blockchain technology to bring efficient access to private shares, meeting strong investor demand for high-quality private assets.” Tokenization Continues to Gain Traction Marni McManus, Citi’s Country Officer for Switzerland , emphasized the unique opportunity made possible by Swiss regulation and SDX’s technology: “We’re helping modernize a traditionally manual, paper-heavy industry by offering digitized, scalable solutions to issuers and investors.” Ryan Marsh, Head of Innovation & Strategic Partnerships for Citi’s Investor Services and Issuer Services, added, “As tokenization gains traction, we’re ensuring our clients can participate in the evolving digital asset landscape. “Working with SDX supports our broader innovation agenda and reinforces our commitment to unlocking new opportunities.” World of Tokenized Everything? In an interview with CryptoNews, Dea Markova, Policy Director at Fireblocks, said, looking ahead, the team is focused on scaling infrastructure to handle the growing diversity of its client base, particularly in payments. However, in the long term, the company is betting big on tokenization beyond finance. “We’re imagining a world of tokenized everything. We’re already working with Sony in Japan —think supply chains, gaming, non-financial processes.” This latest initiative with Citi and SDX also supports the broader development of the Swiss digital asset ecosystem. Sygnum and SBI Digital Markets will play a key role by extending access to tokenized pre-IPO equities for clients across Europe and Asia. As digital assets continue to evolve, the Citi-SDX collaboration marks a major move in making private markets more transparent, accessible, and efficient for global participants. The post Citi, SDX Set Q3-2025 Launch for Tokenized Pre-IPO Shares – Is Private Capital About to Go Digital? appeared first on Cryptonews .
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Crypto whales are shifting from hype to tokens with real utility-like XRP and Remittix-fueling rapid growth forecasts. Table of Contents Remittix introduces transformational PayFi protocol, soars 400% XRP price on the verge of a major breakout The bottom line Savvy crypto investors are moving on from hype to tokens with real world utility. Coins like Ripple (XRP) and Remittix (RTX) are like this, offering valuable financial services to both retail and institutional entities. Crypto whales are already taking positions in them already as they are poised for explosive growth in the coming weeks. You might also like: Investors rush to Remittix presale, Dogecoin and Solana could fall up to 30% in April Remittix introduces transformational PayFi protocol, soars 400% Remittix concerns itself with solving the core problems plaguing cross-border payments, high fees, slow transaction times and lack of transparency. Its PayFi protocol connects global payment networks with numerous blockchains. This allows anyone to send crypto as fiat to any bank account in the world. These transactions are near-instantaneous. The associated fees are much cheaper than available alternatives like Western Union and the process is more efficient as well. This specific utility could transform the $800 billion cross-border market and that’s what Remittix aims to achieve. As a result, crypto experts are expecting big things from Remittix. If it successfully captures even a small fraction of the global remittance market, demand for RTX would go through the roof. Investors are always drawn to small projects like this with huge potential. This explains Remittix’s 400% price surge since its debut. Savvy investors, including whales, are hopping on its presale, which is the only way to join its revolution. It is available at a price of $0.0757, with room to skyrocket 10x to 25x in the coming months. XRP price on the verge of a major breakout The change in leadership at the SEC has seen chances of an XRP spot ETF approval jump above 80%. Crypto experts are now predicting new all-time highs for XRP price, with a $64 million XRP whale movement adding fuel to the momentum. At the moment, the XRP price holds firmly to confluence support levels at $2.20, established by the 50- and 100-day Exponential Moving Averages (EMA). There was pivotal movement around this level in the past week, but that hasn’t deterred XRP price. Ripple continues to show signs of an upward trend towards $3.00. There’s also a buy signal in the Moving Average Convergence Divergence (MACD) and it reinforces this bullish momentum. In early April, the MACD line (blue) crossed above the signal line (red), indicating that demand is surging for XRP. Possible drawbacks could happen at $2.5 and $2.8 as XRP holders take profit. But with positive sentiments enveloping Ripple, these drawbacks, if they happen, aren’t likely to slow down XRP’s momentum. The bottom line Remi ttix and XRP represent contrasting bets for crypto investors. While XRP is a legacy asset with brand recognition and a massive market cap, Remittix is a nimble game-changer solving a specific global problem. Both benefit from surging whale interest, but their risk-reward profiles differ sharply. XRP’s breakout potential is real, yet its upside may be tempered by its saturated popularity, lingering regulatory risks and slower adoption curves. Remittix, on the other hand, is a disruptor that operates in a market that is seriously calling out for innovation. As a result, XRP could see steady 50-100% gains. Remittix is well-poised for a 10x surge in the coming months. This highlights its edge for aggressive investors who want to maximize their profits this year. To learn more about Remittix, visit the Remittix presale and join the online community. Read more: Cardano, Dogecoin, and Remittix feature as analysts pick most undervalued cryptos Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
KULR Technology Group has deepened its Bitcoin commitment, purchasing 42 additional BTC and bringing its total holdings to 716.2 BTC, the company announced. The energy storage and management firm said it has spent approximately $69 million acquiring Bitcoin ( BTC ) at an average price of $96,342 per BTC. The latest investment follows KULR’s December 2024 announcement that it would allocate up to 90% of its surplus cash to Bitcoin. At the time, the company held around $12 million in cash reserves and cited financial resilience and global Bitcoin adoption as core drivers behind the strategy. You might also like: New Hampshire becomes first state to authorize Bitcoin and crypto investments Global acceptance of Bitcoin CEO Michael Mo previously said the move is part of a broader effort to integrate emerging financial technologies into KULR’s operations. “We believe the growing global acceptance of Bitcoin is still in its early stages,” Mo stated, pointing to governments, companies, and capital markets increasingly embracing blockchain and crypto assets. This news comes as New Hampshire became the first U.S. state to authorize its treasurer to invest public funds in Bitcoin and other digital assets. Governor Kelly Ayotte signed a bill allowing up to 10% of state funds to be allocated to assets like Bitcoin, provided they meet strict criteria including a $500 billion market cap threshold. KULR also reported a 197.5% BTC yield at the time, a proprietary metric tracking the percentage change in its Bitcoin holdings relative to fully diluted shares.. You might also like: Never sell your Bitcoin, maxis say. Then why are they so fixated on Bitcoin’s price?
Key takeaways : Chainlink could reach a maximum value of $20.24 in 2025. By 2028, LINK could reach a maximum price of $64.19. In 2031, Chainlink will range between $164.95 and $202.37. Chainlink (LINK) emerged as a prominent player in the cryptocurrency market. It provides a decentralized oracle network that connects smart contracts with real-world data, influencing the current price . As the adoption of decentralized finance (DeFi) and blockchain technology continues to grow, Chainlink’s innovative solutions have attracted significant attention from investors and developers alike. Chainlink continues to expand its reach and utility across the blockchain ecosystem, showcasing its robust integration capabilities. Recent updates highlight 14 new integrations of 5 Chainlink services across 10 different blockchain platforms, demonstrating its versatility in multiple blockchains. , including prominent names like Arbitrum, Avalanche, and Ethereum. These integrations enhance Chainlink’s network and solidify its position as a critical player in decentralized applications’ interoperability and functionality. Understanding Chainlink’s potential price movements involves analyzing various factors such as market trends, technological advancements, partnerships, and overall market sentiment. This chainlink price history prediction aims to provide insights into its future performance by examining technical analysis and fundamental aspects that could influence its value. Overview Cryptocurrency Chainlink Token LINK Price $13.45 Market Cap $9.27B Trading Volume $203.67M Circulating Supply 657.09M LINK All-time High $52.88 May 09, 2021 All-time Low $0.1263 Sep 23, 2017 24-hour High $13.8 24-hour Low $13.22 Chainlink price prediction: Technical analysis Metric Value Price prediction $ 10.34 (-26.10%) Volatility 8.84% 50-day SMA $ 13.91 14-day RSI 48.85 Sentiment Bearish Fear & Greed Index 52 (Neutral) Green days 14/30 (47%) 200-day SMA $ 16.55 Chainlink price analysis: LINK faces bearish pressure near key support zone Chainlink (LINK) faces strong resistance at $14.17 and struggles to maintain above critical support at $13.55. The digital asset is in a downtrend, with recent price action showing weakening momentum and declining trading volume. If LINK breaks below $13.55, it may reach the next support level at $13.10, intensifying the bearish sentiment. Chainlink (LINK) is trading at $13.65 as of May 6th, 2025, marking a 2.85% decline in the last 24 hours. The digital asset is exhibiting a bearish trajectory, hovering just above the critical support at $13.55, while encountering strong resistance at $14.17. This range has become a pressure zone for LINK, with traders watching for a decisive breakout or breakdown. Despite Chainlink’s continued relevance in decentralized finance (DeFi) and its ongoing utility across innovative contract platforms, recent price action reveals weakening momentum. Market participants appear hesitant, with price trending lower and trading volume declining, pointing to a lack of bullish conviction in the short term. Chainlink 1-day chart: LINK struggles below key resistance as downtrend deepens On the one-day chart, LINK is trading below its 20-day Exponential Moving Average, indicating that the asset remains in a short-term downtrend. The price has failed to break through the $14.17 resistance, a key level for bulls to reclaim to shift momentum. The Relative Strength Index (RSI) on the daily chart is near 44.8, showing that LINK is approaching bearish territory but not yet oversold. If the price breaches the $13.55 support, it could initiate a steeper correction toward the next demand zone around $13.10. Sellers have been dominant, and the pattern of lower highs and lower lows confirms the downward trend. Chainlink 4-hour chart: Bearish momentum persists as LINK clings to critical support The 4-hour chart reinforces the bearish setup, with LINK continuing to post lower highs and lower lows. The asset struggles to maintain footing above the $13.55 support, and there is no visible bullish divergence on the short-term indicators. The RSI on the 4-Hour chart remains weak and below the midpoint, while price action is trending under the short-term moving averages. Sellers stay firmly in control, and a break below $13.55 on this timeframe could accelerate the decline toward $13.10, in line with the daily outlook. Buyers must reclaim above $14.00 to challenge near-term resistance and shift momentum. Chainlink technical indicators: levels and action Daily simple moving average (SMA) Period Value Action SMA 3 $ 13.46 BUY SMA 5 $ 14.43 SELL SMA 10 $ 14.74 SELL SMA 21 $ 14.11 BUY SMA 50 $ 13.91 BUY SMA 100 $ 15.99 SELL SMA 200 $ 16.55 SELL Daily exponential moving average (EMA) Period Value Action EMA 3 $ 13.62 BUY EMA 5 $ 13.22 BUY EMA 10 $ 13.10 BUY EMA 21 $ 13.48 BUY EMA 50 $ 14.87 SELL EMA 100 $ 16.39 SELL EMA 200 $ 16.69 SELL What to expect from Chainlink? As of writing, LINK price is trading at $13.37, declining over 1.8% in the last 24 hours. Buyers are strongly defending a drop below the $13 level. If the price breaks below $13 mark, we might see a strong bearish rally, pushing the price toward the low of $11.7. On the other hand, if LINK price holds the $13 level strongly, buyers might create a strong upward rally. As a result, LINK price might aim for a surge toward $15. Is Chainlink a good investment? Chainlink (LINK) could be a substantial investment for those who believe in the long-term growth of decentralized applications. It is critical in connecting smart contracts to real-world data through its oracle network. It has shown recent bullish momentum, with strong support levels around $14.46 and potential for a breakout above $15. However, like all cryptocurrencies, it carries risks such as market volatility, regulatory uncertainty, and competition from other oracle providers. Investors should weigh these factors based on their risk tolerance and investment goals. Why is LINK price down today? Buyers failed to hold the momentum of LINK around the $14 level. As the price hovered below 23.6% Fib level, sellers gained control and triggered a decline. Will Chainlink recover? Chainlink’s price has declined recently, with minor short-term recoveries; however, the move is gradual. The general trend remains bearish as it seeks support amidst price volatility . Will Chainlink reach $50? Based on long-term forecasts, Chainlink (LINK) is projected to reach $50 by 2028, indicating potential future price movements. as its ecosystem and user adoption continue to grow. Will Chainlink reach $100? Chainlink can reach $100 in the year 2030, per expert predictions. Does Chainlink have a good long-term future? Chainlink shows some stabilization and potential for recovery, indicating the token may have a promising long-term future. Chainlink price prediction May 2025 For May 2025, Chainlink is primed for notable growth. The minimum projected trading price is $13.40, with an average of around 14.81, relative to the current chainlink price. LINK is expected to attain a peak price of $15.24. Chainlink Price Prediction Potential Low Average Price Potential High Chainlink price prediction May 2025 $13.40 $14.81 $15.24 Chainlink (LINK) price prediction 2025 The market price for LINK is expected to reach a maximum of $20.24 in 2025. However, traders can expect a minimum trading price of $16.99, which is influenced by the overall market capitalization and an expected average trading price of $17.69. Chainlink Price Prediction Potential Low Average Price Potential High Chainlink price prediction 2025 $16.99 $17.69 $20.24 Chainlink price prediction 2026-2031 Year Minimum Average Maximum 2026 $24.82 $25.71 $30.02 2027 $36.43 $37.72 $43.85 2028 $52.39 $54.27 $64.19 2029 $77.68 $80.39 $92.82 2030 $115.08 $119.10 $138.01 2031 $164.95 $169.72 $202.37 Chainlink price prediction 2026 In 2026, Chainlink is expected to reach a maximum value of $30.02, a minimum price of $24.82, and an average value of $25.71. Chainlink price prediction 2027 In 2027, LINK’s average price is expected to be $37.72; its minimum and maximum trading prices are predicted to be $36.43 and $43.85, respectively, reflecting its historical performance . Chainlink price prediction 2028 The price of Chainlink is predicted to reach a minimum level of $52.39 in 2028. LINK can reach a maximum level of $64.19, and an average price of $54.27. Chainlink price prediction 2029 The Chainlink price prediction for 2029 suggests a minimum price of $77.68, a maximum price of $92.82, and an average forecast price of $80.39, considering the total crypto market cap . Chainlink price prediction 2030 In 2030, Chainlink prediction expects LINK to reach a maximum value of $138.01, a minimum price of $115.08, and an average value of $119.10. Chainlink price prediction 2031 The price of Chainlink is predicted to reach a minimum value of $164.95 in 2031. If the bulls hold, investors can anticipate a maximum price of $202.37 and an average trading price of $169.72. Chainlink market price prediction: Analysts’ LINK price forecast Firm 2025 2026 DigitalCoinPrice $30.99 $36.12 CoinCodex $8.94 $ 22.75 Cryptopolitan’s Chainlink price prediction According to our Chainlink price forecast, the coin’s market price might reach a maximum value of $20.24 by the end of 2025. In 2026, the value of LINK could surge to a maximum price of $30.02. Chainlink’s historic price sentiment Chainlink price history of on chain smart contracts. Chainlink launched at around $0.20, and remained under $1 throughout 2018, with moderate market cap growth. In 2019, LINK had substantial growth, reaching $1 in May and peaking around $3 by year-end, driven by its utility in providing reliable data feeds for smart contracts. 2020 marked a breakout year as LINK surged from $2 to $20 by August, fueled by DeFi demand. In 2021, it reached an all-time high of around $52 in May but dropped to $22 by mid-year due to market volatility. In 2022, LINK ranged between $15 and $25 amid broader market corrections. In 2023, it further declined, stabilizing in the $6 to $13 range as investor sentiment cooled. Starting 2024 at $15, LINK briefly spiked to $18 in February before falling to $12 by April. The coin’s price has fluctuated throughout 2024, peaking near $15 in May, dropping to around $10 by August, and stabilizing between $10 and $12.28 in October. In November, LINK is trading within the range of $10.68 to $11.94. In December, LINK maintained a range of $18.43 to $30.94. In January 2025, Chainlink peaked at $22.9 but lost momentum towards the end of the month, leading to a trading range of $19.20- $21.00 in February. In March 2025, Chainlink (LINK) experienced a strong upward trend, starting at approximately $13.73 and steadily rising to $16.02, with periods of volatility. As of April, Chainlink (LINK) has shown relatively stable price movement, fluctuating between $12.60 and $13.20, indicating moderate volatility within a narrow trading range. In May, Chainlink (LINK) started trading at approximately $14.20 and experienced some price swings, dipping below $13.90 at its lowest point. As of the latest data, the price has slightly recovered and is currently around $14.06, showing mild volatility.
The post Avalanche (AVAX) Price Rebounding from the Buy Zone: Is a 40% Upswing on the Horizon? appeared first on Coinpedia Fintech News In the times when Bitcoin price is struggling to rise above $95,000, Avalanche price flashes huge potential of a bullish continuation. The token has been forming consecutive lower highs and lows after the rejection from the pivotal range at $22. In a wider perspective, the bears seem to have held a strong grip over the rally, but the AVAX price is flashing a hidden bullish divergence that may clear the path above the local threshold. The AVAX price underwent its second successful rejection from the neckline zone, which has flashed a huge opportunity to take short positions. With the markets bleeding, there is a huge possibility that the price could take a dip towards the lower target that could complete a massive double top pattern, which could further harm the AVAX price rally in the long term. Meanwhile, the technicals do not seem to be in favor of a massive pullback, while a tight accumulation could prevail for some time. The bears have restricted the rally below $22 since the major pullback in March, which seems to have drained the strength of the bulls. Besides, the Bollinger bands have begun to squeeze as the volume drops, hinting towards a drop in the volatility. Meanwhile, the CMF or the Chaikin Money Flow, has triggered a bullish rebound from the levels not visited since July 2024. Each time the weekly CMF rebounds from the lows below -0.15, a huge upswing follows with nearly a 200% price rise. Hence, the AVAX price could trigger a strong rebound if the levels close above $20 and sustain for a day or two. With this, a rise above $22 could be validated that may further push the price above $25 and validate a rise above the bearish captivity. Failing to do so may keep the Avalanche price consolidated below $22 until a huge bullish volume creates massive buying pressure over the crypto.
Stock markets erased many of their previous week’s declines as tariff fears are once again back in focus. Stocks are down as traders brace for the key Fed decision on interest rates, as tariff fears reemerge. On Tuesday, May 6, DOW Jones lost 404 points, or 0.98%, trading at 40,814, while the S&P 500 was down 0.84% and the Nasdaq dropped 1.00%. Traders were concerned after U.S. President Donald Trump made several remarks that suggested that tariff relief is unlikely. Over the weekend, Trump announced a 100% tariff on foreign movies and stated that there were no plans to talk to China’s President Xi Jinping this week. You might also like: Dow, S&P 500 slip amid ongoing market uncertainty What is more, Trump hinted at a new tariff on pharmaceuticals , which will be announced over the next two weeks. He added that he would balance the cost for consumers by reducing the regulatory burden on U.S. pharmaceutical producers. Among the biggest losers today Tesla, which registered a 2.46% decline, thanks to ongoing troubles in Europe . In the UK, consumers registered only 512 new Tesla cars in March, down 62% from a year earlier. These figures reflect similar declines in Germany, France, Sweden, and more. Tariffs cause record-high U.S. trade deficit Recent figures also showed that the U.S. trade deficit hit a record high in March, reaching $140.5 billion. The figure doubled over the last year, which stood at $68.6 billion in March 2024. The deficit was a reaction to the tariffs, as companies rushed to import as much as possible before higher rates took place. According to a report from the Commerce Department on Tuesday, the U.S. imported a record amount of goods from 10 countries. These included Mexico and Vietnam, but not China . Notably, imports from China were the lowest in five years and will probably drop further due to the continued 145% tariff rate. Read more: Exclusive: Scaramucci warns tariffs could trigger recession, boost Bitcoin and Europe
The European Union plans to impose additional tariffs on about $113 billion in US goods should negotiations with President Trump prove unsuccessful. The US placed a 25% tariff on all steel, aluminum, and cars from Europe, plus a 10% tariff for almost all European goods , which could rise to 20% once President Trump’s 90-day pause ends on July 8. The European Union vows to reject unfair trade deals with the U.S. On Tuesday, the European Union clarified that they will not bow down to pressures and accept an unfair tariff agreement with the United States. European Trade Commissioner Maros Sefcovic argued that the commission is not “weak” and thus will not agree to any unfair deal. He added that they plan to use the pause period to come up with more rebalancing measures. He also insisted that the US needs to show that it’s prepared to come to an objective deal. He commented, “All options remain on the table here . While the EU’s clear preference was to negotiate a solution with the United States, he said Washington now needed to show its readiness to make progress towards a fair and balanced agreement.” Nonetheless, he agrees that US import levies are unwarranted and will only cause economic harm to both sides of the Atlantic. The European Union clarified that current US tariffs affect 70% of its exports to the United States and believes it could easily increase to 97%, roughly €549 billion, after further US investigations into pharmaceuticals, semiconductors, and other products. EU to share retaliatory measures with member states by Wednesday The European Union is considering imposing additional tariffs of about €100 billion, or about $113 billion, if negotiations with the US fail. The bloc had made it clear that it does not want tit-for-tat tariffs, but if talks yield no results, it aims to maximize the pain for the US with new levies while ensuring their supply chains are least affected. According to people familiar with the matter, the commission should disclose the proposed retaliatory measures to member states as early as Wednesday, followed by a month-long consultation period before final approval. The European Commission, the agency’s executive branch dealing with trade, is also set to share a paper with the US to try to start negotiations, which some have precluded to detail reduced trade and non-tariff barriers and increased investments in the US. The EU had previously extended an offer to scrap all duties on industrial goods, such as cars, but the U.S. rejected it. Additionally, the European Union proposed increasing imports of American liquefied natural gas and soybeans—measures that had helped calm trade disputes during Trump’s first term. However, the US seems more interested in the EU’s taxes on tech companies and its value-added tax rather than engaging with the bloc’s proposals. The agency has so far declined to discuss its tech levies and even claimed that its VAT is a fair and non-discriminatory tax that applies equally to domestic and imported goods. Earlier, in its first list of retaliatory measures, the EU had targeted politically sensitive constituencies in the US and included goods such as soybeans from Louisiana. The European Union could still include some of those measures in its new list. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites
Ripple (XRP) has been one of the crypto market’s biggest winners since Trump’s election win, surging by 314% since early November, even after a 36%...