🚨💥 Cryptocurrencies fall after Trump's statements: trade uncertainty hits the market 💥🚨
The prices of Bitcoin and the major altcoins suffered declines this Thursday, after U.S. President 🇺🇸 Donald Trump confirmed progress in a trade agreement with 🇨🇳 China but issued new tariff threats that leave investors on edge.
📍 From London, Trump stated that the framework of the agreement is in place but still needs to be reviewed by China.
The provisional pact includes:
* Resumption of Chinese licenses for key exports like rare earth minerals
* The U.S. would maintain a 55% tariff on Chinese imports 📦
* China would apply a 10% tariff on U.S. products 🍔🛠️
However, Trump warned that he will send new tariff proposals to several economies in the coming weeks, with a deadline of July 9. While he is willing to extend the deadline, the threat of further measures has raised global concern.
Markets do not see this as a real solution but rather as a fragile truce.
🎢 The outcome took a bearish turn, especially in the crypto market:
💰 Bitcoin fell 1.9%, settling at $107,000
💎 Ethereum dropped 1.2%, trading at $2,730
🔵 XRP decreased 3.6%
🔥 Solana plummeted 3.8%
🌱 Cardano fell 5%
🐶 Dogecoin dropped 5.7%
📊 Meanwhile, the market is already looking ahead to next week, awaiting the Federal Reserve's (Fed) decision on interest rates. The Fed is expected to keep rates stable, but any sign of tightening could increase pressure on assets. 🚨📉
