Bitcoin and a broad array of altcoins surged last week, buoyed by easing trade tensions and renewed investor optimism. President Donald Trump’s positive remarks about U.S.–China negotiations helped push Bitcoin past $104,000, putting it within striking distance of its all-time high. Ethereum followed suit, breaking out of consolidation and rallying sharply from $1,800 to $2,500, driven by a short squeeze. The total cryptocurrency market cap climbed above $3.2 trillion as bullish sentiment swept across the digital asset space.
This week, three key developments are poised to shape market direction: international trade negotiations, U.S. inflation data, and a high-profile industry conference in Toronto.
1. U.S.–China Trade Talks Offer Market Tailwinds
The ongoing trade discussions between the U.S. and China in Switzerland are acting as a major macro driver for both crypto and equities. While the first round of talks ended without concrete announcements, President Trump praised the session as showing “great progress.”
In contrast, Beijing maintained a cautious tone, with official state media warning that China would resist any proposals seen as threatening its core interests or global fairness. Despite the uncertainty, any steps toward de-escalation could reduce recession fears and give the Federal Reserve room to cut interest rates sooner, analysts say—an outcome that would likely bolster risk assets, including cryptocurrencies.
2. U.S. Inflation Data in Focus
Another pivotal catalyst this week is the release of the April Consumer Price Index (CPI) by the U.S. Bureau of Labor Statistics, scheduled for Wednesday. Analysts anticipate a modest uptick in inflation, forecasting headline CPI to rise from 2.4% in March to 2.5% in April, while core CPI is expected to remain at 2.8%.
Goldman Sachs has projected that inflation may end the year at 3.8%, driven by factors including tariffs. Crypto markets are highly sensitive to inflation data, as it influences Federal Reserve policy. The Fed recently held interest rates steady at 4.5% and signaled a cautious approach. A lower-than-expected CPI reading could reinforce hopes of a rate cut, potentially fueling further gains in Bitcoin and altcoins.
3. Consensus Toronto Set to Ignite Industry Buzz
The Consensus conference in Toronto is also generating significant anticipation. Known for driving market momentum, the event will feature prominent voices such as Cardano’s Charles Hoskinson, Chainlink’s Sergey Nazarov, Eric Trump, and SkyBridge founder Anthony Scaramucci.
These conferences often serve as launchpads for partnerships and token-related announcements. For instance, Pi Network’s price spiked following a teaser from its Core Team ahead of a previous major event. With high-profile speakers and companies in attendance, investors will be watching closely for market-moving developments.
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