Bitcoin/Crypto Monthly Update
What’s in Today’s Report:
- Bitcoin/Crypto Monthly Update
Futures are modestly lower following more tariff increases and escalation in the tensions between the White House and Fed.
President Trump increased tariff rates on non-USMCA goods from Canada to 35% and threatened to increase the baseline tariff on all imports to 15% – 20% (from 10%).
Tensions between the White House and Fed rose on Thursday, as the Office of Management and Budget is now investigating the Federal Reserve building renovation.
Today there are no economic reports so trade headlines will be in focus, including the tariff rates on the EU and Taiwan. Markets have been impressively resilient this week in the face of potentially dramatic tariff escalation, but if negative trade headlines continue throughout the day, don’t be surprised if this early selloff accelerates because tariff rates are possibly going much, much higher than previously expected.
