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Moments ago, Producer Price Index (PPI) data was released, yet Bitcoin (BTC) 
$82,832 has not initiated the feared decline. Additionally, expectations around Federal Reserve interest rate cuts remain largely unchanged. On the other hand, we are about to witness a significant development expected to trigger volatility within a few hours. The crypto landscape is bustling with activity.
Key Developments in Cryptocurrency
Today, Trump will hold a press conference regarding reciprocal tariffs at 1:00 PM (ET). With only hours left until the 9:00 PM Turkish time conference, the impact of Trump’s tariff announcements on cryptocurrencies has been evident in recent days. If new tariffs are announced and implemented simultaneously for multiple countries, it would signal the start of the worst-case scenario.
Market Reactions and Economic Impact
While negotiations with Canada and Mexico continue, the shock from the tit-for-tat with China has been felt across markets. Trump claims he will protect the economy with reciprocal tariffs for countries like India and Japan. At best, this move will contribute to rising inflation in the U.S. in the short term.
Even the recently released PPI data, which exceeded expectations, reflects a rise in costs. Following yesterday’s higher-than-expected PPI, the markets are pricing in that interest rates will largely remain stable until December 2026 after a single rate cut in September.
In another development from China, iFlyTek announced it is nearing the completion of a new artificial intelligence model. Following the significant collapse of DeepSeek, a similar event could be on the horizon. Initially, DeepSeek excited many, but long-term users have confirmed that it falls short compared to GPT in several areas.
