Latest News: Trump's tariffs on Canada raised to 35%, is the crypto market about to collapse?
Answer: 1. The tariff issue has been finalized, with Europe, Japan, and South Korea reaching agreements on tariffs with the U.S., which Trump is using to showcase his achievements. The impact of Canadian tariffs on the market is extremely limited and is expected to be quickly absorbed.
2. The drop of ETH to around 3700 at night was due to PCE falling short of expectations, which reduced the Fed's rate cut expectations for September, but this expectation had already been absorbed by the market during Powell's speech.
3. Currently, BTC and ETH are considered premium assets in U.S. stocks due to the support from ETFs. The fundamentals of U.S. stocks are strong, the tariff issue has been finalized, and recent earnings reports from leading U.S. companies have exceeded expectations. The view that the crypto market will recover in August remains unchanged.
