Easing Trade Tensions, U.S. Stock and Crypto Markets Rally

April 24 news, the easing expectations of the trade war boosted market sentiment, and U.S. stocks opened higher on Wednesday. Late in the morning session, the U.S. Treasury Secretary stated that reaching a comprehensive trade agreement between the two major economies may take two to three years, and Trump will not unilaterally lower tariffs, causing the upward momentum of U.S. stocks to be suppressed, retracing more than half of the gains.

By the close, the S&P 500 was up 1.67%, the Dow Jones was up 1.07%, and the Nasdaq was up 2.5%. Technology stocks led the rise, with Tesla and Intel both gaining over 5%. The crypto market's gains slowed down, with Bitcoin reaching a high of $94,696 yesterday before slightly retreating, reporting $93,576 at the close of editing, with a daily increase of 0.64% and a market cap of $1.86 trillion, once again ranking as the eighth-largest asset by market value globally. The Bitcoin spot ETF witnessed net inflows for four consecutive trading days.

Most other mainstream tokens rose, with Ethereum striving to stay above $1,800. The TRUMP currency surged over 40% on news that the top 25 holders could have dinner with Trump. Tariff policy news continues to disrupt global financial markets, triggering dramatic fluctuations with any slight progress. Market movements have detached from fundamental logic, and policy uncertainty has disrupted traditional signals. Despite the U.S. stock rally for two consecutive days, market sentiment has not truly improved.