According to @StockMKTNewz, the cryptocurrency market remained stable despite renewed US tariff threats, with Bitcoin (BTC) trading down approximately 1.9% at $105,699.95. While the broader crypto market saw minor changes, crypto-related stocks experienced significant drops, with Coinbase (COIN) falling 6% and Circle (CRCL) plummeting 16%. Traders are now shifting their focus to major upcoming economic events, primarily Federal Reserve Chairman Jerome Powell's testimony and the release of the core Personal Consumption Expenditures (PCE) price index. Analysts cited in the report suggest that any dovish signals from Powell could encourage risk-taking and benefit BTC. The Core PCE data is expected to show a modest 0.1% month-on-month increase, potentially supporting arguments for a Fed rate cut. However, analysts at ING caution that the inflationary impact of tariffs could delay significant rate cuts until later in the year.

According to The White House (@PressSec), recent economic measures under the Trump administration have resulted in 139,000 new jobs, a $2.8 trillion deficit cut through tariffs, and the trade deficit being halved. Notably for crypto traders, a proposed $9.4 billion reduction in DOGE (Digital Outlays for Government Expenditures) is being discussed. These fiscal strategies could lead to increased liquidity in financial markets and may influence cryptocurrency adoption and volatility, as government spending adjustments often impact investor sentiment across traditional and digital assets. Crypto traders should monitor ongoing government policy developments for potential market-moving catalysts. Source: The White House (@WhiteHouse), June 7, 2025.