Tariffs 2.0
Crypto dips as U.S. tariffs and weak jobs data hit markets. BTC fell 3.2%, ETH lagged. Futures turn defensive, ETF outflows spike. Despite a bullish U.S. report, traders stay cautious. BTC holds $112K–$116K, as liquidation risks remain high.
Preview
The crypto market kicked off August with a sharp downturn, driven by renewed U.S. reciprocal tariffs and weak labor data. Bitcoin fell 3.2% after briefly retesting its May highs, while Ethereum showed greater volatility and slightly underperformed. Despite the selloff, the release of the U.S. Digital Asset working group's report signaled a bullish long-term stance, advocating for crypto innovation and regulatory clarity, reinforcing momentum from the GENIUS and CLARITY Acts. However, the looming impact of tariffs has traders adopting cautious strategies, reflected in declining BTC futures premiums.
