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Are Trump’s Tariffs Impacting Cryptocurrencies as Expected? Santiment Weighs In
The recent announcement by United States President Donald Trump regarding reciprocal tariffs on global trades has sent shockwaves through the financial markets. The crypto market, in particular, was expected to benefit from this uncertainty, as investors might seek safer and more decentralized alternatives. However, according to data from Santiment, the reaction of cryptocurrencies has not been as anticipated.
Following the tariff announcement, Bitcoin (BTC) lost at least $5,000, with most altcoins also experiencing significant declines in value. This unexpected development may have far-reaching consequences for the cryptocurrency market, as it challenges the initial assumption that investors would turn to crypto as a hedge against macroeconomic turmoil.
It is crucial to note that previous policy changes implemented by Trump have had a negative impact on the crypto market. Given this history, some investors might be hesitant to enter the market or are choosing alternative assets instead. Gold and silver, for instance, have seen significant increases in value during this time period.
The data from Santiment also highlights an interesting phenomenon: Bitcoin’s correlation with the S&P 500 index has increased significantly since the tariff announcement. This correlation has been a major point of contention among crypto enthusiasts and traditional investors alike, as some argue that this integration into traditional markets could lead to a bubble and a subsequent crash.
As it stands, Santiment’s data suggests that the tariffs have not had the expected impact on cryptocurrencies. In fact, the opposite appears to be true, with many altcoins experiencing significant losses in value.
It remains to be seen whether the crypto market will eventually rebound or continue this downward trend. One thing is clear: investors are choosing alternative safe-haven assets over cryptocurrency at present.
Source: https://cryptopotato.com/are-trumps-tariffs-impacting-cryptocurrencies-as-expected-santiment-weighs-in/
