Bitcoin’s price continues to fluctuate, currently trading near $68,000, while other major cryptocurrencies such as Dogecoin and Ethereum have experienced declines. This trend is largely influenced by global trade uncertainties, particularly due to new trade policies in the United States. President Donald Trump raised the global tax rate to 15%, despite the Supreme Court challenging his emergency trade measures. The move aims to increase economic pressure on trading partners, including China. Such tax hikes are affecting investment patterns in global markets, impacting riskier assets like cryptocurrencies.
The crypto market is known for its extreme volatility, with investors quickly reacting to both global and local economic and political changes. Rising tax rates and intensified trade disputes have heightened investor concerns, resulting in price fluctuations across cryptocurrencies. Although Bitcoin has reached historic highs, ongoing trade pressures and global economic uncertainties suggest continued price volatility. This period calls for cautious decision-making by investors, as further shifts in international trade relations could significantly affect the crypto market.
Source: coindesk
