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>>Trump's 15% tariff sends shockwaves through equities, but cryptocurrency remains steady.

Trump's 15% tariff sends shockwaves through equities, but cryptocurrency remains steady.

crypthub

about 4 hours ago

Tariff Increase and Market Reaction

US President Donald Trump raised global tariffs to 15%, aiming to address trade imbalances. Despite typical crypto market sell-offs after such announcements, prices remained stable, with Bitcoin at $68,000 and Ether unchanged. The move sparked investor uncertainty over economic and legal challenges. Trump opposed a Supreme Court ruling limiting his tariff powers, asserting the increase was legally justified.

UK Concerns and Trade Impacts

UK officials warned Trump’s tariffs could harm British businesses, urging dialogue to protect trade interests. William Bain of the British Chambers of Commerce noted a 5% tariff hike on UK exports, excluding items in the Economic Prosperity Deal. He criticized the policy as detrimental to global trade and US consumers, stressing the need for stable trade conditions.

Crypto Market and Fund Activity

Crypto markets saw minor declines, with Total3 index dropping less than 1% to $713 billion. Analysts linked Bitcoin and Ethereum’s 2% and 5% weekly losses to investor outflows from US ETFs, including $316 million from Bitcoin funds. Major firms like BlackRock and Grayscale withdrew funds, though net inflows still reached $54 billion, maintaining $85.3 billion in assets.