Trump's tariff policy and changes in the global economy are causing significant disturbances in financial markets, including cryptocurrencies. We analyze how this is reflected in current trends.
Global Economic Changes
The global economic situation is becoming more complicated. Trump continues to assert his influence by imposing tariff measures against trade partners. Recently, he issued Russia a 50-day ultimatum and made severe threats. The economic system is undergoing transformation, raising concerns about the balance of US debt, supported by printed dollars. The global minimum customs tax is set at 10%, with some countries experiencing rates above 20%. In the long run, tariffs are expected to drive inflation higher, delaying any Federal Reserve rate cuts.
Current Cryptocurrency Market Situation
The cryptocurrency market is undergoing significant changes. Despite tariffs being imposed since April, BTC has returned above $119,000. This comes amid decreasing producer price index data, potentially indicating growing investor interest in cryptocurrencies despite global economic challenges. Daily trading volumes on Coinbase have reached levels not seen since BTC's price bottomed out at $74,000.
Analysts' Predictions for Cryptocurrencies
Analyst Jelle notes the resilience of BTC's upward trend, expecting continuation as long as the support level of $118,000 holds. If the price surpasses $120,000, this could initiate new momentum in the market. Analyst Nagato adds that growth in the total value of cryptocurrencies (excluding BTC) to $1.6 trillion may signal the beginning of a significant movement for altcoins.
Trump's tariff policy and the changing economic situation in the world have a noticeable impact on the cryptocurrency market. The future of cryptocurrencies hinges on both internal dynamics and external economic factors.
