Trump Applies 25-40% Tariffs to 14 Countries Including South Korea from August 1st
Market "Potential for Tariff Rate Negotiation"…BTC Maintains Around $108,000
Altcoins Continue to Hover…Experts "US Institutions Influencing Current BTC Price"
President Trump sent a 'tariff letter' to 14 countries, including South Korea and Japan, specifying mutual tariffs of 25-40% per country, to be imposed from August 1st. This is a decision to extend the previously announced deadline of the 9th by approximately one month.
The asset market remained stable under the interpretation that additional negotiation opportunities exist for countries like South Korea and Japan to lower tariff rates by next month, and the cryptocurrency market followed a similar trend.
Bitcoin maintained its price around $108,000, and altcoins also maintained prices similar to the previous day.
◇Bitcoin = At 4 PM on the 8th, the Bitcoin price on Upbit was 147,940,000 won. Bitcoin's dominance was 65.31%.
According to on-chain analysis platform Sigbit, the long and short betting ratios in the Bitcoin futures market were 40.64% and 59.36%, respectively.
Current analysis suggests that US institutional investors are defending Bitcoin's price, and Bitcoin's trend will be determined by the movements of US institutional investors.
Cryptocurrency expert Darkpost pointed out the 'Coinbase Premium Gap', claiming that continued Bitcoin purchases by US institutional investors have maintained Bitcoin's price performance.
Darkpost explained, "If US institutional investors' buying pressure continues, Bitcoin could enter the next stage, but if the current buying pressure decreases, Bitcoin could turn to a downward trend."
◇Rising Coins = At 4 PM on the 8th on Upbit, Hunt (HUNT) recorded the largest increase, rising by about 10%.
Hunt aims to build a blockchain platform that helps digital nomads through decentralized app (DApp) development. HUNT is the cryptocurrency used in Hunt.
Digital nomads are people who perform work or maintain their livelihood using communication technology regardless of location. Those who earn income through social media activities like YouTube or blogs can also be considered digital nomads.
Hunt is building a platform ecosystem for digital nomads through DApps such as Nomad Task, Steemhunt, and Neverlose.money.
◇Fear and Greed Index = The digital asset Fear-Greed index provided by Alternative is 65 points, entering the 'Greed' stage. The greed stage is a period of increased price volatility and trading volume, indicating a potential price increase. Caution is advised for selling due to the high possibility of short-term peak formation.
The Relative Strength Index (RSI) provided by Sigbit is 49.1, recording a 'neutral' state. RSI measures the relative strength between upward and downward price pressures and indicates overbought and oversold levels of a specific asset.
Reporter Seung-won Kwon ksw@blockstreet.co.kr