The latest report shows that Trump's tax exemption policy has positively impacted the Cryptoasset market. When import costs in the technology sector were significantly reduced, Bitcoin reached a record high of $85,900. Historically, Cryptoassets like Bitcoin tend to move in sync with tech stocks, especially when investor sentiment shifts towards riskier assets.
This tax policy helps dispel the gloom in the technology sector and indirectly reduces pressure on the Cryptoasset market. Just a few hours after the announcement, Bitcoin returned to its weekend high of $85,900, breaking through the resistance level around $83,000.
Tax exemption for semiconductor components and computer equipment is a long-term benefit for the Cryptoasset ecosystem. These components are crucial for cryptocurrency mining, blockchain infrastructure building, and AI-based cryptocurrency tool development. If the production and supply of these parts remain uninterrupted and affordable, the cryptocurrency industry – both mining and development – will continue to operate smoothly.
Trump's trade policy remains complex and unpredictable, but the exemption targeting technology equipment provides a clear policy direction in the short term and reduces market pressure. Investors are now more confident that inflation in consumer electronics will be avoided, and companies will not be forced to raise prices or cut innovation.
Despite ongoing tax concerns, this exemption helps alleviate one of the cryptocurrency industry's biggest worries. There has been a slight increase in the Cryptoasset market, and stocks are expected to follow on Monday, further driving Bitcoin and altcoin growth. However, after the initial reaction, the market will become more interesting, and public "FOMO" might erode any potential gains.
