Bhutan has partnered with Binance Pay and local digital bank DK Bank to launch the world’s first national cryptocurrency-based tourism payment system. This new system lets travelers using Binance Pay pay for almost every part of their trip, from hotels to restaurants, using crypto. It’s a bold move that positions Bhutan as a leader in digital finance innovation, making travel more seamless for tech-savvy tourists while boosting the nation’s appeal as a forward-thinking destination.
Donald Trump’s tariffs continue to hurt the global markets, and now, experts such as JPMorgan are predicting a US recession will happen this year. This development is significant considering how it could impact the crypto market, although not in the way some might expect.
Donald Trump’s Tariffs Raise Odds Of US Recession This Year
In a CNBC interview, JPMorgan’s chief economist, Bruce Kasman, revealed that they have raised the odds of a US recession to 60% following Donald Trump’s tariffs announcement earlier this week. Deutsche Bank has also raised the probability of a recession to 50%.
Meanwhile, prior to Trump’s announcement, Goldman Sachs raised the odds of a recession from 20% to 35%. Market commentator The Kobeissi Latter stated that a recession is impossible to avoid if these tariffs persist. Traders are also betting on a downturn this year. On the prediction platform Kalshi, odds for that to happen have surged to 61%.
A US recession is significant considering the impact it could have on global markets. The stock market has already entered bear market territory following Donald Trump’s announcement of tariffs on almost all countries on April 2.
As such, a recession would only cause the stock market and other markets to plunge harder. However, amid this downtrend in the global markets, the crypto market, led by Bitcoin, has shown some impressive strength.
A CoinGape market analysis noted that Bitcoin has decoupled from stocks. The flagship crypto is down only 5.51% while the S&P 500 has crashed 12% over three days. A plausible explanation is that market investors see BTC as a flight to safety amid the market downturn, which is undoubtedly bullish for the crypto market, especially if a US recession occurs.
It is worth mentioning that BlackRock CEO Larry Fink had also previously praised Bitcoin as an “uncorrelated asset” that provides a hedge against market turmoil.
A Recession Might Be Bullish For The Crypto Market
Amid talk of a US recession following Donald Trump’s tariffs announcement, Dom Kwok, an expert and co-founder of EasyA, has affirmed that recessions are bullish for crypto prices. He explained that the US Federal Reserve lowers interest rates during recessions to spur the economy.
This immediately leads to quantitative easing (QE), which is bullish for the crypto market, and more liquidity flows into the market during this period. Dom added that all this would lead to crypto and risk asset prices rising. He also alluded to how the Bitcoin price surged during the 2020 COVID recession.
As such, the crypto market is likely to soar again if a recession occurs. Analyst Kevin Capital also echoed a similar sentiment following China’s response to Donald Trump’s tariffs.
The analyst stated that the crypto market was more focused on the Fed’s monetary policies rather than tariffs. This indicates that a market boom would happen even in the face of a recession, since the US Central Bank would likely step in to help stimulate the economy.
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Made in USA coins are showing bullish indicators as the crypto market enters a new cycle. Bitcoin formed a new ATH at 118,869, and the altcoins followed. However, concern could arrive in the form of tariff wars as Trump announced new tariffs on 25 countries, including the European Union.
BeInCrypto has analysed three Made in USA coins that could face some turbulence in the coming days.
The upcoming Golden Cross is expected to drive XLM’s price further upward, potentially reaching $0.412. If the altcoin can hold the $0.355 support level, this could lead to sustained bullish momentum.
However, if market conditions shift negatively, particularly due to tariff wars or broader economic uncertainty, XLM’s price could face downward pressure.
A fall below $0.355 would likely trigger a decline, with support at $0.332 and $0.313. Such a move would invalidate the current bullish outlook and potentially reset the altcoin’s momentum.
Bonk (BONK)
BONK has gained 18.4% over the last week, reaching $0.00002333. The altcoin is still attempting to secure the $0.00002272 support level, which it has previously failed to hold.
Successfully securing this level would provide the stability needed for the price to maintain its upward momentum.
This recent price rise could attract FOMO-driven inflows, pushing BONK towards the next resistance level of $0.00002496. If the altcoin can secure this resistance, it would solidify recent gains, offering further upward momentum.
However, investors should monitor broader market trends closely. A failure to hold $0.00002272 as support could result in a price drop to $0.00001996.
This would erase a significant portion of recent gains and invalidate the bullish outlook, signaling a potential shift in market sentiment.
Helium (HNT)
HNT has surged 37% over the past week, becoming one of the top-performing altcoins. The price has reached a monthly high, reclaiming the $3.00 mark.
This rally signals growing momentum, but the key challenge will be maintaining this level amid potential market fluctuations in the coming days.
The increased inflows, as shown by the CMF, suggest that demand for HNT is rising. These positive inflows could help sustain the rally and push the price higher.
If the trend continues, HNT could target resistance levels at $3.38 and $3.63.
However, if profit-taking accelerates or broader market cues turn bearish, the rally could face a reversal. HNT may struggle to maintain the $3.00 support and could fall back below it.
A drop below $2.75 would likely lead to a decline to $2.41, invalidating the bullish outlook.
