🚨 Tariff Chaos Returns: Crypto Market Faces Renewed Volatility Deribit Insights
The crypto market is experiencing heightened turbulence as former President Donald Trump's recent tariff announcements have reignited global trade tensions. A U.S. court ruling invalidated Trump's "liberation day" tariffs, stating he overstepped his authority under the International Emergency Economic Powers Act. Although the administration plans to appeal, the decision has introduced significant uncertainty into the markets. Business Insider+2Financial Times+2Barron's+2
In response to the escalating trade tensions, the Federal Reserve has maintained interest rates and expressed concerns about rising economic risks. Markets are now anticipating up to two interest rate cuts by year-end, though some analysts consider this outlook overly optimistic given the projected 3.4% inflation rate. Financial Times
Amidst this backdrop, Bitcoin (BTC) is currently trading at $103,709, down 1.39% over the past 24 hours. Ethereum (ETH) stands at $2,522.80, a decrease of 3.70%, while XRP is at $2.14, down 2.28%. Despite the volatility, some analysts suggest that Bitcoin's relative stability compared to traditional markets may position it as a potential safe haven asset.
