US Delays Auto Tariffs on Mexico and Canada, US Stocks Rise. Commerce Secretary Lutnick's remarks on Bitcoin gaining unique status in crypto reserves boost Bitcoin back to the $90,000 level. Yesterday, the top ten cryptocurrencies by market cap rebounded, and the market will focus on tomorrow's non-farm payroll data and the White House crypto summit.

U.S. Delays Auto Tariffs on Canada and Mexico, Stock Market Rises

The ADP employment report showed that private sector employment in February rose by a seasonally adjusted 77,000 jobs, falling short of the expected 141,000 and marking the smallest increase since July last year. This has heightened concerns about a slowdown in U.S. economic growth. However, the ISM non-manufacturing index came in at 53.5, above the expected 52.5, indicating continued expansion.

Geopolitical news once again dominated market sentiment, with the White House confirming the delay of auto tariffs on Canada and Mexico. The S&P 500 rose by approximately 1%, snapping a two-day decline.

Commerce Secretary: President to Announce Bitcoin Strategic Reserve at White House Crypto Summit

More details about a potential U.S. cryptocurrency reserve will be revealed at the inaugural White House Crypto Summit on Friday. U.S. Commerce Secretary Howard Lutnick stated: “The President definitely thinks that there’s a Bitcoin strategic reserve. Now, there will be the question of, how do we handle the other cryptocurrencies? And I think the model is going to be announced on Friday when we do that.”

Bitcoin Reclaims $90,000, XRP Market Cap Surpasses BNB and SOL

Yesterday, the top ten cryptocurrencies by market cap saw a rebound. Bitcoin climbed back above $90,000, while Ethereum rose above $2,200. XRP surged to $2.5, overtaking BNB and SOL to claim the third spot with a total market capitalization of $145 billion.

Focus on Tomorrow's Non-Farm Payroll Data and Crypto Summit

Several Federal Reserve officials, including Chair Jerome Powell, are scheduled to speak in the coming days. Markets will be closely watching tomorrow’s non-farm payroll data and the White House Crypto Summit. The summit will be hosted by David Sacks and Bo Hines, Executive Director of the President’s Crypto Task Force. Notable attendees expected include MicroStrategy founder Michael Saylor, Coinbase CEO Brian Armstrong, Kraken co-CEO Arjun Sethi, and Chainlink co-founder Sergey Nazarov.

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