On May 2nd, COINOTAG reported on a notable tweet from former President Trump, highlighting significant economic indicators that could influence the crypto market. He stated that gasoline prices have dipped below $1.98 per gallon, marking a multi-year low, alongside a decrease in food and energy costs. This trend may bolster consumer confidence in the economy, which is crucial as digital currencies rely heavily on market sentiment.
Trump also noted a reduction in mortgage rates and an increase in employment rates, suggesting a stable economic landscape. He emphasized the expected positive impacts of tariffs, claiming they are generating billions in revenue. Such fiscal developments could lead to a shift in the monetary policy of the Federal Reserve, potentially paving the way for lower interest rates. This scenario could spur investment in cryptocurrencies, as lower rates may drive individuals towards alternative assets.