Tariff bomb tears through the Indian market, global capital is rushing towards crypto safe havens!

The U.S. has imposed a heavy 25% tariff on India, bringing the total tax rate to 50%! This is one of the most aggressive trade sanctions by the Biden administration for 2024, directly targeting India's tech manufacturing and digital services industry. Following the announcement, the Indian stock market plunged by 3%, and the rupee exchange rate hit a new low for the year!

This move is a huge boon for the crypto space:

Indian capital flight accelerates: High tariffs are forcing companies to seek cross-border alternatives, and cryptocurrencies will become a safe haven for Indian merchants and investors;

Dollar hegemony backfires: The U.S. is abusing financial weapons, prompting more countries to explore DeFi and Bitcoin as alternatives to dollar settlements;

On-chain forex demand surges: Indian companies might conduct cross-border trade using stablecoins, and the traffic of USDT/USDC in India will soar!

Looking back at 2019 when the U.S. sanctioned Iran, Bitcoin premiums in Iran reached as high as 30%, and local trading volume surged by 800%. Now, India's market size is 20 times that of Iran, and the scale of capital flight could set a historical record!

As the Modi government is choked by tariffs, will the next announcement be the legalization of Bitcoin holdings? Follow me for real-time capital flow charts of the Indian OTC market!

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