#BinanceTurns8 Woke up to find that the cryptocurrency circle has made quite a few new moves. Trump's recent actions are quite interesting - the tax increase deferral period has been extended to August 1st, and he has slapped a 25% tariff on Japan and South Korea, while South Africa and several Southeast Asian countries have also been hit with tax rates ranging from 25% to 40%. However, there is good news from the EU, as trade negotiations are progressing smoothly, allowing for a temporary sigh of relief.

Once the news broke, U.S. stocks first dipped as a sign of respect, with valuations dropping by about 1%. U.S. Treasuries are performing even worse, especially long-term bonds, which are incredibly weak. In the past, when U.S. Treasury yields rose, funds would rush in like sharks smelling blood, directly draining the cryptocurrency market. But now the winds have changed - the higher the U.S. Treasury yields, the fewer buyers there are, and funds are instead starting to flow into Asian stock markets and BTC. The Great America Act has accelerated this trend.

The ETF market has been quite strong lately, with inflows of $400 million, $600 million, and $50 million over the past three days. However, Coinbase saw an outflow of 10,000 BTC yesterday, which is something to keep an eye on.