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$105,975‘s price stood at $85,600 at the time of writing. The U.S. markets opened positively, and traders are optimistic. Ongoing volatility has been fueled by the uncertainty surrounding Trump’s tariffs, which are characterized by their aggressive and inconsistent nature. What is the current status of these tariffs? What expectations surround them that could impact the performance of cryptocurrency markets?
Will the Rise of Cryptocurrency Continue?
Trump continues to make aggressive, ambiguous statements, fully aware that they cause greater market uncertainty. The decline observed following his recent comments exemplifies this trend. To assert his resolve to the world, Trump made a strong initial move, threatening extensively before quickly announcing a 90-day pause on tariffs.
This situation is unfavorable, and the mounting uncertainty is likely to negatively impact cryptocurrencies. On Sunday, Trump and U.S. Secretary of Commerce Howard Lutnick announced a separate tax on semiconductors. The sequence of tax, exemption, and subsequent re-introduction of new rates creates an image of extremely unplanned actions.
As the U.S. navigates these issues, China’s President seeks new trade allies. Trump stated today that his administration would show “flexibility” for some products and expressed intentions to announce rates for semiconductors within the week. Thus, depending on upcoming announcements throughout the week, there may be limited upward movement in cryptocurrencies, accompanied by this anxiety.
What Lies Ahead for Cryptocurrencies?
As previously mentioned, while uncertainty and recession fears weigh down the markets, the peak of fear may have passed. Trump’s backtracking and actions confirming his need for compromise could indicate that the toughest days are behind us—unless he wakes up tomorrow and announces higher rates.
In his latest assessment, Michael Metcalfe stated;
“We may have passed the peak of tariff fears. Exemptions are a significant step back.”
Luca Paolini remarked on Trump’s apparent backtracking, saying, “Markets feel that Trump is desperate to find an exit, but the damage may not be fully recoverable.” Meanwhile, Max Kettner from HSBC draws attention to the uncertainty we discussed earlier.
“Who knows what his next announcement will be? We aren’t buying today’s significant fluctuations—we’d prefer to sell off fluctuations like today to make more sales on the stock side.”
