TechFlow news — On March 12, according to The Block, despite Bitcoin's price rebound, Presto Research analyst Min Jung believes Tuesday’s rally merely represents a minor correction following recent sharp declines in the market. "We’re seeing recovery in the market, but this looks more like a small bounce after yesterday’s crash, without any dominant news driving this move," said Jung. "Additionally, equities closed slightly lower on the day rather than experiencing another major sell-off."
Investors are now focusing on Wednesday’s release of the U.S. Consumer Price Index (CPI), a key inflation gauge. "Today’s CPI report will be a major event, as the entire market is watching inflation trends and how the Fed might respond," Jung said.
Nick Ruck, head of LVRG Research, noted: "While Bitcoin and other cryptocurrencies have eased somewhat, this rebound simply corrects an overly cautious risk-off sentiment." The price recovery was partly driven by news that Trump canceled his plan to impose a 50% tariff on Canadian steel and aluminum set to take effect Wednesday. Earlier on Tuesday, Ukraine agreed to Trump’s proposed 30-day ceasefire, and U.S. leaders are now seeking dialogue with Russian President Putin to end the conflict. Vincent Liu, Chief Investment Officer at Kronos Research, cautioned that although tariffs have not yet been broadly implemented to disrupt market momentum, volatility and macroeconomic risks still warrant caution.
