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BTC Holds Steady Above $84K Amid Mixed Tariff Signals from White House
Bitcoin (BTC) remains stable, trading above $84K as East Asian markets open. The White House has issued mixed messages regarding semiconductor and technology component tariffs.
Key points include:
- Commerce Secretary Howard Lutnick stated that tariff exemptions for smartphones, computers, and semiconductors are temporary.
- President Trump confirmed that the tariff rate will be announced next week, mentioning some "flexibility."
- BTSE COO Jeff Mei noted a market rebound due to exemptions from 125% tariffs on China, despite potential shifts to different tariff categories.
- China has imposed a 34% tariff on U.S.-origin semiconductors, impacting companies like AMD and Nvidia, which rely on Taiwanese fabs.
- Analysts in China see short-term disruptions but view tariffs as an opportunity for domestic semiconductor industry growth.
- TSMC is fast-tracking the construction of a new fab in Arizona amid sector uncertainty.
- Shanghai's SSE composite index is up 0.8%, Shenzhen's SZSE by 0.9%, and Hong Kong's Hang Seng by 2.4%.
In crypto news, Hong Kong's Bosera HashKey Ether ETF has been approved for staking services after regulatory guidance was issued. Despite this, ether ETFs have underperformed, with ether down 47% over the past year, while CoinDesk 20 is up 14%.