The US delays the imposition of tariffs on Mexican cars, and US stocks rise. Commerce Secretary Lutnick made remarks suggesting that Bit will occupy a unique position in the crypto reserve, driving Bit back above $90,000. The top 10 cryptocurrencies by market cap rebounded yesterday, and the market will focus on tomorrow's non-farm payroll data and the crypto summit at the White House.

The US delays the imposition of tariffs on Mexican cars, and US stocks rise

The ADP employment report, known as the "mini non-farm payroll", showed that private sector employment increased by 77,000 seasonally adjusted in February, less than the expected 141,000, marking the smallest increase since July last year, exacerbating concerns about the slowdown in US economic growth.

However, the ISM non-manufacturing index came in at 53.5, higher than the expected 52.5, indicating continued expansion.

Geopolitical news once again dominated market sentiment, with the White House confirming that it will delay the imposition of tariffs on Canada and Mexico. The S&P 500 index rose more than 1%, breaking a two-day decline.

Commerce Secretary Lutnick: Bit will occupy a unique position

According to The Pavlovic Today, more details on the US's potential crypto currency reserve will be announced at the White House's inaugural crypto currency summit on Friday.

US Commerce Secretary Howard Lutnick said: "The President certainly believes there is a Bit strategic reserve. But how do we handle other cryptocurrencies? I think we'll unveil that model on Friday."

Lutnick said that under Trump's plan, Bit will occupy a unique position.

Bit is one thing, and the other cryptocurrencies, I think, will be treated differently - positively, but differently.

Bit rebounds to $90,000, XRP market cap exceeds BNB and SOL

The top 10 cryptocurrencies by market cap rebounded yesterday. Bit rebounded to above $90,000, and ETH rose back above $2,200. XRP rose to $2.51, surpassing BNB and SOL to become the third largest by market cap, with a total market cap of $145.1 billion. The controversial PI also entered the top 10 cryptocurrencies by market cap, surpassing LINK and second only to TRX.

Focus on tomorrow's non-farm data and the crypto summit

In the coming days, several Federal Reserve officials, including Chairman Powell, will give speeches, and the market will focus on tomorrow's non-farm payroll data and the crypto summit at the White House.

The White House crypto summit will be hosted by crypto czar David Sacks and Bo Hines, the executive director of the President's Crypto Task Force. Michael Saylor, founder of Strategy, Brian Armstrong, CEO of Coinbase, Arjun Sethi, co-CEO of Kraken, and Sergey Nazarov, co-founder of Chainlink, are expected to attend.