Crypto markets and stocks react to Donald Trump's 'Liberation Day' tariffs
📉 Crypto resilience - Bitcoin showed relative overnight resilience following President Trump's Liberation Day tariff announcement.
🏦 Broader market volatility - The US Dollar dropped to a six-month low while S&P500 futures declined 3% and Nvidia fell nearly 6%, indicating significant impact on traditional markets.
🌐 More to come - Analysts caution that US tariffs may have broader global economic implications that could affect risk assets including cryptocurrencies.
FINANCIAL markets experienced varied responses to President Trump's tariff policy announcement, dubbed 'Liberation Day'.
Traditional equities and crypto markets faced immediate declines after Trump revealed new US tariffs, but Bitcoin showed some relative resilience overnight, dipping by 1.2% in price over 24 hours.
Equity markets reacted sharply to the announcement, with S&P 500 futures declining by 3% and technology stocks like Nvidia dropping by as much as 6%. The US Dollar fell to a six-month low against major currencies.
Bitcoin initially showed some strength yesterday, peaking around $88,000 before declining to around $82,000. It is currently trading around $83,000.
Ethereum decreased by more than 2% overnight, while altcoins experienced deeper losses, consistent with their typically higher volatility.
Market analysts suggest that these newly implemented US tariffs could potentially trigger widespread effects throughout the global economy, potentially impacting higher-risk assets including both equities and cryptocurrencies.
In the markets
🌍 Total crypto market cap ⬇️
The global cryptocurrency market capitalization is approximately $2.77 trillion, reflecting a 1.34% decrease over the last day.
🟠 Bitcoin (BTC) ⬇️
Price: Currently trading at $83,612, marking a 0.91% decrease in the last 24 hours.
Daily high: $88,398
Daily low: $82,162
💎 Ethereum (ETH) ⬇️
Price: Currently trading at $1,819, reflecting a 2.45% decrease in the last 24 hours.
Daily high: $1,943.11
Daily low: $1,785.80
📈 S&P 500 ⬆️
The S&P 500 index is currently up 0.65% from the previous close.
😬 Fear & Greed Index
The Crypto Fear & Greed Index is currently at 24/100, indicating a state of Extreme Fear among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for Bitcoin is at 44, suggesting that the asset is neither overbought or oversold.
Post Script…
Cautionary Notes
It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
