1 days ago
Fundstrat’s co-founder and managing partner, Tom Lee, is issuing a forecast for the US stock market over the near term. In a new CNBC interview, Lee says markets are “really oversold” currently following a correction that has come amid fears over US tariffs. According to the Fundstrat co-founder, investors are currently facing uncertainty, but there will be clarity after April 2nd that could relieve the selling pressure. “And this week, I think into April 2nd, investors have three things on their minds. One is, they just don’t know what the tariffs look like. They don’t know if it’s going to damage the economy. And I think, third, many are just a little terrified of the policies of the White House. But post-Wednesday, I think markets are going to have some visibility. That allows us to take some of the selling pressure off. So yes, I think it’s possible that instead of us breaking down here and seeing markets under further pressure, we actually got the right pieces for a bottom.” According to Lee, America’s economy is “going to come out okay” after the imposition of the proposed tariffs by the US administration scheduled for April 2nd, a day that President Donald Trump has dubbed “Liberation Day.” “Brexit’s [the exit of the United Kingdom from the European Union] an example, you know. Brexit happened and the UK economy emerged okay. It didn’t have a huge recession and the stock market did okay. So for investors today, over the weekend, we had so many thinking the economy is going to completely fall off the rails after Wednesday.” Follow us on X , Facebook and Telegram Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Fundstrat’s Tom Lee Calls for Imminent Stock Market Reversal, Says US Has the ‘Right Pieces’ for a Bottom appeared first on The Daily Hodl .
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Bitcoin Drops Over 6% to $83,100 Following Trump`s 25% Tariff on Foreign Autos and 34% on Chinese Imports
Bitcoin and other cryptocurrencies have experienced a notable decline following President Donald Trump`s announcement of new tariffs on foreign imports. The tariffs include a 25% levy on all foreign automobiles, with specific rates of 34% on Chinese imports, 46% on Vietnamese goods, and 20% on products from the European Union. The price of Bitcoin fell over 6% from $88,500, reflecting a broader downturn in risk assets. This move has contributed to increased volatility in the crypto market, as investors react to the implications of the tariffs on international trade and economic stability. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io The Daily Hodl
XRP in Focus as RLUSD Sees $100M Minted on Ripple Payments Boost
Over $100 million in Ripple USD (RLUSD) has been issued since April 1, among the highest levels in recent months, as demand for the relatively new stablecoin heats up. A $50 million tranche of RLUSD was issued earlier this week on Tuesday, with another $50 million late Wednesday. That came as Ripple added the stablecoin to its official payments product, with payment providers BKK Forex and iSend already said to be using the stablecoin. Industry leaders expect RLUSD to further shift crypto market dynamics , where upstarts tether (USDT) and USD Coin (USDC) could see competition from Ripple’s product. XRP Ledger-based decentralized financial (DeFi) applications could be a cohort to watch for as RLUSD gains traction on various platforms, boosting XRP token demand. RLUSD is a stablecoin pegged 1:1 to the U.S. dollar, offered on the XRP Ledger and Ethereum blockchain. It is fully backed by U.S. dollar deposits, short-term U.S. Treasuries, and cash equivalents. To maintain its peg, RLUSD relies on a 1:1 reserve system—each token matches an equivalent fiat value. Users can mint RLUSD by depositing dollars with authorized partners, who issue tokens, or burn RLUSD to redeem cash. Market arbitrage helps stabilize its price: if RLUSD trades below $1, traders buy it to redeem at par, raising demand; if above $1, they mint more, increasing supply. Security features make RLUSD appealing to institutional users. An XRP Ledger amendment in January saw a “clawback” feature go live on the network, allowing the issuer to reclaim or "claw back" certain tokens, such as RLUSD, from users` wallets under specific conditions. This feature is typically implemented for regulatory compliance, to recover assets in cases of fraud, illegal activities, or when tokens are sent to unintended addresses. The Daily Hodl
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