FameEX Morning Crypto News Recap | May 7, 2025
2025-05-07 05:52:10U.S. Treasury Secretary Poised to Announce Trade Agreement with Major Partners This Week
On May 6, Treasury Secretary Bessent indicated that a trade agreement with several major U.S. trading partners could be announced later this week.
Treasury Secretary Bessent: U.S. Continues to Attract Global Capital, Forecasts 3% GDP Growth Under Trump’s 2026 Economic Policies
On May 6, Treasury Secretary Bessent stated at the Milken Institute Global Conference that the United States remains the leading destination for global capital. He projected 3% GDP growth in 2026, crediting the anticipated impact of Trump’s proposed tax cuts and deregulation policies on economic expansion and investment.
U.S. Trade Deficit Surges to All-Time High of $140.5 Billion in March
The U.S. trade deficit reached a record $140.5 billion in March, exceeding the $137 billion forecast. February’s deficit was revised upward from $122.7 billion to $123.2 billion.
Greeks.live Briefing: Traders Watch Crucial Bitcoin Zone of $90,000 to $92,000
Greeks.live notes a cautiously bullish market sentiment, with traders concentrating on Bitcoin’s $90,000 to $92,000 range. Options trading is prominent, but there’s growing caution around positions that could become difficult to unwind.
Over 55% Express Doubts About Dollar’s Safe-Haven Reputation
A Reuters survey conducted April 30–May 6 shows over 55% of respondents now question the dollar’s safe-haven status, rising significantly from about one-third expressing doubt in April.
IBIT Records 15 Days of Fund Inflows, Reaching Sixth in Annual Totals
On May 6, Bloomberg’s Eric Balchunas reported IBIT gained $500 million in inflows, extending its 15-day streak and surpassing GLD to become the sixth-highest ETF by annual inflows.
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