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🚨 Crypto Markets Wobble as Trump’s New Tariffs Strengthen Dollar 💵📉
The cryptocurrency market faced sharp volatility early Friday as Bitcoin (BTC) and Ethereum (ETH) reacted to former President Donald Trump’s sweeping tariff announcement. The move has added fresh inflation concerns, boosting the U.S. Dollar Index (DXY) above 100 — its highest level since late May.
BTC & ETH Price Action: Dollar Pressure Hits Crypto ⚡
Bitcoin (BTC) dropped sharply to $114,290, testing a crucial bullish trendline drawn from April and June lows. However, BTC managed to bounce back, currently trading near $115,900.
Ethereum (ETH) mirrored Bitcoin’s move, falling to $3,616 before recovering to around $3,690.
The surge in Dollar Index (DXY) indicates that financial conditions might tighten further, which historically forces traders to cut down on riskier assets like cryptocurrencies. The DXY has gained over 3% in just four weeks, signaling increased demand for the dollar amidst global market uncertainties.
Inflation, Fed Rate Cuts, and What Comes Next 🔄
Trump’s aggressive tariff policy is expected to exacerbate inflation pressures, complicating the Federal Reserve’s ability to lower interest rates in the coming months. The spotlight now turns to the U.S. Nonfarm Payrolls Report, which could provide critical clues on the Fed's future monetary policy stance.
Meanwhile, the Japanese yen (JPY) weakened to a four-month low against the dollar, reflecting the greenback’s broad-based strength.
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💬 Traders, What’s Your Move?
Do you see this volatility as a sign of further declines, or is this a perfect dip-buying opportunity? Drop your thoughts in the comments below! 👇
#CryptoNews #Bitcoin #Ethereum #TrumpTariffs #DollarIndex #BinanceSquare #CryptoTraderView
BTC & ETH Price Action: Dollar Pressure Hits Crypto ⚡
Bitcoin (BTC) dropped sharply to $114,290, testing a crucial bullish trendline drawn from April and June lows. However, BTC managed to bounce back, currently trading near $115,900.
Ethereum (ETH) mirrored Bitcoin’s move, falling to $3,616 before recovering to around $3,690.
The surge in Dollar Index (DXY) indicates that financial conditions might tighten further, which historically forces traders to cut down on riskier assets like cryptocurrencies. The DXY has gained over 3% in just four weeks, signaling increased demand for the dollar amidst global market uncertainties.
Inflation, Fed Rate Cuts, and What Comes Next 🔄
Trump’s aggressive tariff policy is expected to exacerbate inflation pressures, complicating the Federal Reserve’s ability to lower interest rates in the coming months. The spotlight now turns to the U.S. Nonfarm Payrolls Report, which could provide critical clues on the Fed's future monetary policy stance.
Meanwhile, the Japanese yen (JPY) weakened to a four-month low against the dollar, reflecting the greenback’s broad-based strength.
---
💬 Traders, What’s Your Move?
Do you see this volatility as a sign of further declines, or is this a perfect dip-buying opportunity? Drop your thoughts in the comments below! 👇
#CryptoNews #Bitcoin #Ethereum #TrumpTariffs #DollarIndex #BinanceSquare #CryptoTraderView
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
114,376.99
+1.55%
ETH
3,510
+3.62%