Crypto Market Faces Volatility Amid Global Economic Concerns

According to PANews, the cryptocurrency market experienced significant fluctuations this week, with Bitcoin surging to 94,000 before retreating to 83,000, and currently stabilizing around 88,000. The market's movements are influenced by macroeconomic factors such as U.S. President Donald Trump's reserve plans, escalating trade tensions between the U.S., Canada, and China, and tariff adjustments, closely mirroring stock market trends. This Friday marks the first White House Crypto Summit, though it lacks specific policy support, leading to cautious market sentiment. Investors are keen to see if the summit will act as a price catalyst or trigger further sell-offs. Additionally, the yield spread on U.S. high-yield bonds has widened to 290 basis points, and the Atlanta Federal Reserve's GDP forecast has turned negative at -2.8%. Market participants are closely watching Friday's non-farm payroll data and next week's Consumer Price Index (CPI) to gauge the direction of the macroeconomic landscape.