Crypto and equity markets continue to take strain amid escalating global trade tensions
📉 S&P 500 extends losing streak – The index has lost about 12% since Trump announced his tariff plans late last Wednesday, reflecting ongoing investor concerns over escalating trade tensions.
💰 Cryptocurrency market declines – Bitcoin (BTC) has fallen over 2%, while Ethereum (ETH) has declined more than 5%, mirroring the downturn in equities.
🌐 Escalating trade tensions – The US has implemented new tariffs, prompting China to vow "resolute and effective measures".
GLOBAL financial markets are under pressure as escalating trade tensions between the United States and China weigh on investor sentiment.
The S&P 500 has lost about 12% since Trump announced his tariff plans late last Wednesday, reflecting growing concerns over the potential economic impact of newly implemented US tariffs.
In the cryptocurrency sector, Bitcoin (BTC) has decreased by over 2%, currently trading at approximately $77,163. Ethereum (ETH) has experienced a more significant drop of over 5%, with its price around $1,473. These movements align with the broader market downturn.
Yesterday’s implementation of US tariffs has drawn a strong response from China. According to CNN, China's Foreign Ministry stated it would take "resolute and effective measures" to safeguard its rights and interests, signalling a potential escalation in the trade dispute. Amid this environment, the Crypto Fear and Greed Index has plummeted to 15/100, a level indicative of Extreme Fear among investors.
Analysts are closely monitoring these developments to assess their potential impact on both traditional and crypto markets. The prevailing uncertainty suggests that volatility may persist, with investors remaining cautious as they navigate this development.
In the markets
🌍 Total crypto market cap ⬇️
The global cryptocurrency market capitalisation is approximately $2.47 trillion, reflecting a 1.83% decrease over the last day.
🟠 Bitcoin (BTC) ⬇️
Price: Currently trading at $77,780, marking a 2.1% decrease in the last 24 hours.
Daily high: $80,109
Daily low: $74,772
💎 Ethereum (ETH) ⬇️
Price: Currently trading at $1,485, reflecting a 5.2% decrease in the last 24 hours.
Daily high: $1,586
Daily low: $1,398
📈 S&P 500 ⬇️
The S&P 500 index is currently down 1.57% from the previous close.
😬 Fear & Greed Index
The Crypto Fear & Greed Index is currently at 15/100, indicating a state of Extreme Fear among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for Bitcoin is at 52, suggesting that the asset is in neutral territory.
Cautionary Notes
It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
