Donald Trump, the US President, is preparing to shake the market once again. Global financial markets are tense due to Trump's announcement of tariff letters.
President Trump met with reporters on Air Force One on the 4th and said, "I have signed about 12 letters" and "they are planned to be sent on Monday, the 7th." He did not mention which countries the letters are targeting or their specific contents. However, he noted that tariff rates could be "between 10% and 70%," which is expected to cause significant impact.
This statement has particularly resonated among cryptocurrency investors. Tariff imposition could lead to stock market instability, which might stimulate buying pressure for cryptocurrencies as an alternative asset. There have been precedents where major cryptocurrency prices like Bitcoin fluctuated whenever the US made protectionist statements in recent years.
President Trump firmly stated that "the point when money starts coming into the US will be August 1st." The market is expected to recalibrate asset allocation strategies based on this date. Major investment firms are assessing this as a moment to test the market's defensive capabilities, anticipating tariff rates above 10%.
The cryptocurrency market closely follows the Federal Reserve's interest rate adjustments. The Federal Open Market Committee (FOMC) minutes to be released on the 9th are also crucial. While some Fed officials recently mentioned the possibility of a July rate cut, Chairman Jerome Powell has been more cautious, citing inflation concerns. In a situation where interest rates and dollar value are intertwined, this becomes an important variable for Bitcoin and other cryptocurrencies.
Currently, the New York Stock Exchange continues to rebound within a narrow range, driven by strong buying pressure from individual investors amid Trump's statements. However, this week, as the tariff timing and details become more concrete, significant volatility cannot be ruled out. Cryptocurrencies are expected to either follow the traditional asset trends or potentially rise based on their safe-asset characteristics.
Investors are carefully monitoring the expected inflation figures to be announced by the New York Fed on the 8th and the FOMC minutes on the 9th. Simultaneously, earnings reports from Delta Airlines and Conagra Brands scheduled this week are expected to influence overall investment sentiment.
Amid various interconnected global asset market factors, attention is focused on whether cryptocurrencies can again serve as a safe haven.
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