Cryptocurrencies displayed formidable resilience while traditional equities faltered amid escalating trade tensions. The Dow Jones Industrial Average dropped 286 points (0.64%) following new tariff threats, including a proposed 35% duty on Canadian exports.
Bitcoin surged 4% within 24 hours to reach an unprecedented peak of $118,856. Major altcoins mirrored this momentum, with Ethereum (ETH), XRP, Dogecoin (DOGE), and Cardano (ADA) posting significant gains throughout the trading session.
Trade complexities intensified globally with U.S. tariffs on select Vietnamese exports moderating from an initial 20% to an effective 10-15%. This adjustment underscores evolving geopolitical dynamics affecting international commerce.
Digital assets substantially outperformed traditional indices like the Nasdaq and S&P 500, signaling robust bullish momentum despite broader market volatility. Bitcoin’s breakthrough above $118,000 fuels optimism for continued upside, bolstered by accelerating institutional adoption and favorable ETF developments.