Summary
- It was reported that Bitcoin turned weak after the Trump administration's 'tariff policy' announcement.
- The price of Bitcoin fell by 2.8% compared to 24 hours ago, which may affect investments.
- It was stated that due to President Trump's policy, both the U.S. futures index and Bitcoin turned downward.
Bitcoin is also showing weakness due to the 'tariff bomb' announced by the Trump administration.
As of 8:15 a.m. on the 3rd, according to CoinMarketCap, Bitcoin is down 2.8% compared to 24 hours ago. It is also down 1.2% compared to an hour ago. Altcoins (cryptocurrencies other than Bitcoin) are also generally weak.
On the 2nd (local time), the New York Stock Exchange showed strength during regular trading hours. This was due to growing expectations for the resolution of uncertainties. During this period, Bitcoin also rose. However, after the market closed, U.S. President Donald Trump announced a large-scale tariff policy, causing major U.S. futures indices to plummet, and Bitcoin also turned downward.
President Trump announced a plan to impose a basic 10% tariff on all imports entering the United States and to add punitive tariffs to about 60 trading countries. For individual countries, 34% was set for China, 20% for the European Union (EU), 24% for Japan, 26% for India, 32% for Taiwan, and 46% for Vietnam.
Reporter Young-ki Jin, Hankyung.com young71@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
