The crypto market is off to a shaky start in August.
🇺🇸 With Trump’s new tariffs kicking in, global markets are reeling—and so is crypto.
📉 Bitcoin dropped 3%, sliding below $115K. Ether fell over 5%, and XRP tanked more than 7%.
💸 The broader market (CD20) slumped 6% as the U.S. dollar index surged past 100.
📊 Why? Trump's tariffs (up to 41%) on imports from the EU, Japan, and Canada are fueling inflation fears—pushing the Fed’s core PCE to 2.8%. Now, odds of a September rate cut are down to 38%.
🧠 Bearish bets are rising, especially on ETH. Options traders are hedging downside risk, signaling shaky sentiment.
📅 All eyes on today’s U.S. jobs data—expected to show just 110K new jobs. A weak print could bring rate cut hopes back into play.
🔍 Also Watching:
Aug. 1: Helium (HNT) halving event
Aug. 6: 50% U.S. tariff on Brazil begins
Aug. 7: Major reciprocal tariffs go live
Aug. 15: Next FTX payout record date
NFT market is heating up again, with CryptoPunks leading a $6.4B sector rally
📉
BTC
92,395.77
+2.35%
$BTC : $114,962 (-2.92%)
📉
ETH
3,307.72
+6.12%
$ETH : $3,619 (-5.94%)
📊 DXY$D
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