Trump Tariffs Shake Global Markets: Bitcoin and Ethereum Surge as Investors Seek Safety
Trump tariffs are causing a global ripple effect, driving investors toward cryptocurrencies. With new duties imposed on several countries, including Japan, South Korea, Iraq, and more, financial markets are reacting with uncertainty. As a result, Bitcoin and Ethereum are seeing significant gains. The phrase "Trump tariffs" is central to these dramatic market movements.
In This Article:
New Trump Tariffs Hit Seven Countries, Prompting Waves in Crypto Valuations
The latest Trump tariffs now target exports from seven nations, with new levies ranging from 20% to 30%. Countries like Brunei, Sri Lanka, Iraq, Moldova, the Philippines, Algeria, and Libya are all affected, with more countries facing possible tariffs soon. These changes have destabilized global markets, pushing investors to look for alternatives like Bitcoin and Ethereum.
Bitcoin’s Price Rises Nearly 2% as Investors Hedge Against Trump Tariffs
Bitcoin climbed almost 2% in the past 24 hours, reaching $109,201, with daily trading volumes spiking to $44.7 billion. The Trump tariffs fueled uncertainty, leading more people to invest in decentralized digital assets. Bitcoin is now just 4% below its all-time high, and historical trends show it often rises during global trade conflicts like the current Trump tariffs era.
Ethereum Leads with 4% Surge Amid Trump Tariff Expansion and Market Shakeup
Ethereum surged nearly 4% in a single day, outpacing Bitcoin and most other digital currencies. Investor activity on the Ethereum network has increased, as more people move away from traditional stocks after the Trump tariffs. This marks Ethereum’s largest one-day gain in recent weeks, emphasizing the role of Trump tariffs in shifting investment behaviors.
Altcoins Rally: BNB, SOL, and XRP Gain Strength After Trump Tariffs Expand
BNB, SOL, and XRP also benefited from the growing unease in global markets caused by Trump tariffs. BNB saw momentum from its blockchain utility features, SOL rose with increased network activity, and XRP spiked 4%, powered by institutional adoption. As conventional assets suffer from trade disputes, these altcoins have emerged as attractive options for investors.
