Trump Tariffs Dey Shake Crypto Markets Amid Global Trade Talks
US Presiden Donald Trump don talk say e go put more Trump tariff for countries wey no open dia market dem. The tariff wey suppose start for August 1, dem bin delay am so dat dem fit get more time to do trade negotiation with EU and Canada. Up till now, US don secure tariff agreement with UK, Vietnam, Indonesia, Philippines and Japan, and Japan no dey pay any US import duty. For July 23, Trump come talk again for Truth Social say e go only reduce the rates if big economy open dia market and warn say if dem no comply, e go increase the duty more. Some analyst believe say Trump dey use the tariff threat as bargaining method to get better deal. The news make di crypto market shake small. Bitcoin small fall below $118,000, e drop 0.5% to $119,038. Ethereum drop 2.6% to $3,552 before e come rise small again. For top token, BNB stay steady, but XRP, ADA and SOL fall as much as 9%. The increase for trade wahala and strong dollar dey cause people to avoid risk, e dey make market dey unstable and e dey put pressure on cryptocurrency price. Crypto traders suppose dey watch how tariff matter and trade talk dey go, so e no go affect market trend.
Bearish
For short-term, di Trump tariff announcement cause sell-off for major cryptocurrencies dem, e clear as Bitcoin and Ethereum price drop sharp sharp. Di threat say dem go increase duty plus di risk aversion dey make demand for dollar high, wey dey usually put pressure for crypto assets down. For medium to long term, if trade tensions still dey, e fit keep market volatility high and e fit make bullish momentum weak, as traders dey stay cautious for policy wey no clear. Overall, dis kain development no good for crypto prices, especially for BTC and ETH.