
With the new government in the United States, the cryptocurrency market has gone against expectations. Although many had hoped that legal reforms and the creation of strategic cryptocurrency reserves would help the price of bitcoin (BTC) grow, the digital currency, which had crossed 100,000 at the beginning of the year, is now trading in the 80,000 range.
Today, US President Trump plans to announce new trade tariffs against 15 countries, including China, Canada and Mexico. This decision could have a significant impact on financial markets.
The solidarity of cryptocurrencies with traditional markets, including stocks and bonds, has put a lot of pressure on the crypto market in the context of economic uncertainty. In the same vein, the S&P 500 has fallen more than 2 percent in the past five days, and there is a possibility of increased volatility in bitcoin.
Some analysts believe that the decline in investor risk has caused cryptocurrencies to lose their position as a safe asset against options such as gold. However, gold has grown 18 percent this year, and hope melkan, a professor at Columbia University, believes that in the future, bitcoin could replace gold.
Zach Pendle, greaskill's head of research, says that markets may have already taken into account the impact of Trump's tariffs on prices, and that if tariffs are applied gradually, there is a possibility of market growth.
On the other hand, Syed Powell, CEO of Maple, believes that if Trump's tariffs are milder than expected, they could drive up the price of bitcoin. But if these policies lead to a strengthening of the dollar or a slowdown in economic growth, risky assets, including cryptocurrencies, will be under more pressure.