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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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Trump halts stimulus plan negotiations, Bitcoin falls 1.6%.
Recently, U.S. President Trump announced that he rejected the $2.4 trillion economic stimulus plan proposed by the Democrats and instructed his team to suspend related negotiations until after the presidential election.
Trump stated on social media: "We have proposed a quite generous $1.6 trillion plan, but the other side seems to lack the sincerity to engage in real negotiations." He also mentioned that if he wins the election, he will immediately introduce a significant economic stimulus bill focused on supporting hardworking American citizens and small businesses.
This news, once announced, immediately caused a stir in the global financial markets, and the cryptocurrency market was no exception. As of 10:30 AM on October 7, the price of Bitcoin dropped by 1.6%, while Ethereum saw a decline of 4.31%.
This move demonstrates the tense situation in current American politics, as well as the difficulty of reaching a consensus on the economic stimulus plan before the election. The market reacted strongly to this unexpected situation, reflecting investors' concerns about the economic outlook.
It is worth noting that the correlation between the cryptocurrency market and traditional financial markets has once again been reflected in this event. This reminds investors to closely monitor changes in macroeconomic policies and assess their potential impact on various assets.