The cryptocurrency market is bracing for another night of downturns as optimism wanes for the coming days. Factors contributing to the current negativity include tariffs and President Trump’s actions, which do not aim to entirely resolve tensions. Particularly, attempts to balance the trade deficit see Trump trying to curb China’s growth in the artificial intelligence sector. Amidst this, the future of SHIB, XRP, and AVAX remains uncertain.
Shiba Coin (SHIB)
With news reported by FT about chip-related insights, Bitcoin 
$77,690 fell below 107,000 dollars, causing altcoins to lose support levels. While not surprising, it was mentioned that such scenarios would unfold in the latest announcements. Trump appears unfazed by the risk of a global trade war, continuing his endeavors.
For Shiba Coin, further declines could lead to testing the bases of 0.00001246 and 0.00001054.
Despite a 121 million dollar reserve promise, XRP Coin is finding buyers just above its 2.2-dollar support level. If declines continue, 1.98 dollars could be tested. As July 9 approaches, Trump’s likelihood of growing more aggressive and unpredictable looms large, a primary concern for investors.
Amid high tariffs globally, Trump, lacking time for extensive negotiations with all parties, seems to be using the budget deficit as a weapon, almost retreating inward. While this spells recession for the global economy, we’ll soon see how this historic event unfolds, with only a few weeks left to anticipate its evolution.
AVAX Price Predictions
Repeated failures above 26 dollars see AVAX prices retreating towards 22.4 dollars. Further closures below 106,800 dollars for BTC could mean more losses soon, negatively impacting altcoins as well.
If AVAX’s decline continues, it may retest the range between 19.44 and 18.5 dollars. Friday’s PCE data release and U.S. GDP figures, expected in hours, might balance the declines. However, the Fed stands firm against interest rate cuts, continuing to avoid them amidst potential extraordinary market risks, as reaffirmed in their meeting minutes.
