Trump Revives Tariff Threats
This week, both Bitcoin and stocks could be affected by renewed global trade tensions after the U.S. President Donald Trump warned that new tariffs—ranging from 10% to as high as 70%—could be imposed on multiple countries starting August 1. Market analysts believed that this could affect stocks and crypto if the tariffs turned out to be unfavourable. Although Bitcoin is often seen as a hedge against economic uncertainty, the crypto market could still be affected. The market’s concern is that these aggressive tariffs could slow global trade, hurt corporate earnings, and drag down broader economic growth, which affects both traditional stocks and crypto prices.
Beginning of “Crypto Week” on 14th July
The U.S. is about to launch a major “Crypto Week” starting July 14, where lawmakers will vote on key bills to shape the future of digital assets. These include clearer rules for what counts as a crypto security or commodity, new standards for stablecoins (digital dollars), and a proposal to block the creation of a government-controlled digital currency (CBDC), which some fear could threaten privacy. At the same time, in Asia, Singapore is tightening its crypto rules, pushing unlicensed firms out—while Hong Kong is moving in the opposite direction by creating more friendly regulations to attract global crypto companies.