Crypto Markets Remain Steady Amid Renewed Trump Tariff Threat
The crypto markets showed stability on Friday despite renewed tariff threats. Key points include:
- Bitcoin (BTC) decreased by 0.7%, trading at $106,700.
- The CoinDesk 20 index also fell by 0.7%, with Sui (SUI) being the only notable gainer at 3.3%.
- Crypto stocks experienced larger fluctuations: Coinbase (COIN) dropped 6%, and Circle (CRCL) fell 16%, down 40% since Monday.
- Bitcoin miners were mostly stable; Core Scientific (CORZ) rose over 30% following acquisition talks, while Hut 8 (HUT) declined by 6.5%.
- U.S. President Trump announced a halt to trade discussions with Canada regarding the Digital Services Tax, indicating new tariffs within a week.
- The pause on reciprocal tariffs is set to end on July 9, but analysts suggest that markets are not reacting significantly.
- Market analysts note a general disregard for potential economic risks from tariffs, as they do not currently appear inflationary.