Trump’s Trade Policies Shake Up the Cryptocurrency Market
2025-07-12 14:50:03
Main Idea
US President Donald Trump's announcement of new trade tariffs on imports from Mexico and the EU has caused significant fluctuations in the cryptocurrency market, with most major digital currencies declining in value except for XRP.
Key Points
1. Trump announced new tax tariffs of up to 30% on imports from Mexico and the EU, citing insufficient border security efforts by Mexico and unbalanced trade relations with the EU.
2. Following the announcement, Bitcoin (BTC) fell by 0.6%, Ether (ETH) decreased by 1%, and other major cryptocurrencies like Solana (SOL) and DOGE dropped by over 2%, while XRP rose by 1.78%.
3. The tariffs are set to take effect starting August 1, and the market reactions highlight the sensitivity of cryptocurrencies to geopolitical and trade policy changes.
4. Despite the declines, some analysts remain optimistic about Bitcoin's potential to surpass the $120,000 mark in the near future.
Description
Trump's tariffs led to fluctuations in the cryptocurrency market. XRP rose 1.78%, diverging from other major digital currencies. Continue Reading: Trump’s Trade Policies Shake Up the Cryptocurrency Market The post Trump’s Trade Policies Shake Up the Cryptocurrency Market appeared first on COINTURK NEWS .
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