TL;DR
- The crypto market falls following Trump’s imminent announcement on new auto tariffs, which could escalate international trade tensions.
- Bitcoin (BTC) and other cryptocurrencies are losing value, while Dogecoin (DOGE) shows a slight rebound.
- Investors are keeping an eye on the potential effects on digital asset prices.
The crypto market is shaken by Trump’s imminent announcement on new auto tariffs. The president is expected to communicate the measure, which could intensify the trade dispute with international partners and adds to a new round of tariffs expected to be implemented next week.
The initiative aims to promote the growth of the domestic auto sector and encourage the relocation of production to the United States. However, the measure has caused panic and uncertainty in global financial markets.
Trump Sets Bitcoin Back
The news has had an immediate impact on digital asset prices. Bitcoin (BTC) is currently trading at $86,717.15, down 1.55% in the last 24 hours. Ethereum (ETH) stands at $2,006.87, registering a drop of 3.34%, while XRP (XRP) is valued at $2.39, representing a decrease of 2.45%. Cardano (ADA) is at $0.731261, down 3.00%, and Dogecoin (DOGE) reaches $0.194585, experiencing a slight rebound of 1.34%.
The Crypto Market Feels the Impact and Awaits Updates
On the other hand, Litecoin (LTC) is moving towards $92.47 with a drop of 1.22%, and Polkadot (DOT) is trading at $4.69, showing a modest increase of 0.64%. Chainlink (LINK) is around $15.21, down 1.17%, Bitcoin Cash (BCH) is at $333.74, with a decrease of 1.30%, and Uniswap (UNI) is trading at $6.77, down 3.01%.
Trump’s announcement has triggered alarms in both traditional markets and the crypto industry, with traders and analysts closely monitoring every detail of the statement and the evolution of trade tensions.
The potential implementation of these tariffs could trigger a chain reaction across various economic sectors, forcing investors to carefully assess the impact this could have on their portfolios. In this context, it is advisable to remain vigilant and monitor market movements to take advantage of new opportunities or avoid any losses
