Recent tariffs announced by President Trump have significantly impacted cryptocurrencies, while US bond yields demonstrate stability.
Impact of Tariffs on the Crypto Market
The tariffs announced by President Trump on 14 countries triggered immediate reactions in the market. Bitcoin fell over 2%, highlighting the sensitivity of cryptocurrencies to political changes. Ethereum mirrored this drop amid global economic uncertainty.
Market Reactions and Expert Opinions
Experts note that the tariffs could negatively affect the short-term prospects for cryptocurrencies. Vikram Subburaj, CEO of Giottus, indicated that cryptocurrencies may face risks of declining to the $104,000 level. "Trump's tariff announcement… will impact the crypto market negatively in the short term," he noted.
Rebound Potential for Cryptocurrencies
Despite short-term concerns, some analysts believe that cryptocurrencies could rebound sharply once macroeconomic conditions stabilize. Historical trends suggest Bitcoin's resilience in post-panic recoveries.
The tariffs introduced by President Trump have had a notable impact on the cryptocurrency market; however, experts predict possible recovery as economic conditions improve.
