Cumberland Labs: Trump's tariff policy indirectly affects the cryptocurrency market
Golden Finance reports that on Friday, Bitcoin fell to around $80,000 in the Asian market, marking its lowest level since November 11. Chris Newhouse, research director at Cumberland Labs, pointed out that "the tariff policy has further suppressed market prospects and stubborn high short-term inflation expectations have exacerbated overall caution.
The exchange hacking incident added extra downward pressure on prices and had a negative impact on market sentiment." Cryptocurrencies also face greater pressure from investors' risk preference changes as they withdraw trades related to Trump across multiple markets. The SP 500 index fell this week after dismal US consumer confidence data raised doubts about economic prospects.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Data: The current Crypto Fear & Greed Index is 9, indicating an extreme fear state.
Multiple U.S. hedge funds reduced holdings in the "Tech Magnificent Seven" in Q3
DCR is currently priced at $37.04, up 10.6% in the past 24 hours.
STRK surpasses $0.23, up 29.3% in 24 hours
Trending news
MoreCrypto prices
More
