US stocks were narrow on Tuesday (3/25), with the S&P 500 and Nasdaq indexes rising for the third consecutive trading day. Consumer confidence declined, and the market cautiously views next week's tariff details. BTC remains hovering around 87K, ETH is consolidating near 2,050, and the overall crypto market lacks a clear direction.
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ToggleConsumer Confidence Declines, Market Cautiously Views Next Week's Tariff Details
Most large tech stocks rose, driving the stock market higher, with Tesla continuing its five-day rally, rising 28%. Consumer confidence dropped to a four-year low, affecting market sentiment. US bond yields declined, and the US dollar stopped its recent rise. Oil prices fell as the US said Russia and Ukraine have agreed to a ceasefire in the Black Sea.
(Tesla Stock Price Rebounds, Musk's Fans Support, Ark Targets $2,600)
Recent consumer confidence surveys were disappointing as families worry that Trump's tariff measures could lead to inflation resurgence. Businesses have warned of price increases and declining demand, aligning with economists' predictions of stagflation risks and increased recession possibilities.
In Tuesday's consumer confidence report, the US March Consumer Confidence Index fell to 92.9, the lowest since February 2021. The expectation index measuring US economic conditions for the next 6 months dropped even more to 65.2, hitting a 12-year low.
As the White House plans to implement more targeted tariff measures next week, US taxes may provoke different responses from target countries, making their economic consequences almost unpredictable.
BTC Hovers at 87K, Follows Traditional Financial Fluctuations
BTC remains hovering around 87K, and ETH is consolidating near 2,050. Gateio founder Han Lin stated in the Wu Blockchain crypto podcast that BTC no longer has a clear cycle and is influenced by traditional finance. Vida, founder of Formula News, believes the altcoin season requires monetary policy easing.
BitMEX founder Arthur Hayes, known for bold market predictions, loudly called for ETH to lead and reach $5,000, with SOL following to $300. SOL, which dropped below $120 in mid-March, has gradually risen above $140, with a weekly increase of nearly 15%.
(Arthur Hayes Calls Again: ETH to Reach $5,000 First, SOL to Follow to $300)
Risk Warning
Cryptocurrency investment carries high risks, and prices may fluctuate dramatically. You may lose all your principal. Please carefully assess the risks.
