In a week marked by economic fluctuations and geopolitical tensions, European leaders have expressed concerns over recent developments. Meanwhile, on-chain data reveals a bullish trend for Binance Coin (BNB), as its trading volume surged to 5.13 billion. The long-to-short ratio for BNB has also peaked to its highest level in over a month, suggesting strong investor interest.
The Euro area reported a modest GDP expansion of 0.1% in the fourth quarter, surpassing the previous estimate of zero growth. Despite this slight improvement, the reaction from European leaders remains cautious. The EUR/USD pair traded above 1.0450 during the European session on Friday, as the US Dollar struggled to find demand amidst ongoing geopolitical tensions.
BNB's price experienced a significant rally, climbing nearly 11% this week and trading around $680 on Friday. This bullish momentum is supported by increased trading activity and a favorable long-to-short ratio, indicating a positive outlook for the cryptocurrency.
Revised fourth quarter GDP figures for the Euro area are anticipated, though no changes are expected from the initial estimates. The US Dollar continues to face downward pressure, further exacerbated by President Trump's announcement of tariffs on some of America’s trading partners. Risk sentiment remains optimistic, buoyed by the delay in Trump's reciprocal tariffs.