May 29th, 2025

Market insights: Ethereum challenges Bitcoin’s dominance, US dollar strengthens, gold dips as trade tariff fears ease

From the US trade court’s decision to block President Trump’s global tariffs to Nvidia’s reassuring earnings report and the rising prominence of cryptocurrencies like Bitcoin and Ethereum, these developments are weaving a complex tapestry of risks and opportunities.

I’ll offer my perspective on how these factors are influencing global markets, currencies, commodities, and the burgeoning digital asset space. This analysis aims to provide a comprehensive view, grounded in facts and data, while steering clear of speculation or unsupported claims.

A trade ruling that shifts the risk calculus

The US trade court’s recent ruling to deem President Trump’s global tariffs illegal and block their implementation has sent ripples of relief through global markets. These tariffs, if enacted, would have affected trillions of dollars in international trade, casting a long shadow over supply chains, corporate profits, and consumer prices.

By halting this policy ahead of the critical July tariff timeline, the court has effectively dismantled a tactical risk that had been weighing heavily on investor sentiment. The immediate market response has been positive—Asian shares climbed in early trading, and US equity index futures are pointing to a robust 1.6 per cent higher opening for US stocks, signalling a collective sigh of relief among traders and analysts alike.

However, this victory for free trade advocates is tempered by significant uncertainty. The Trump administration has vowed to appeal the decision, setting the stage for a high-stakes legal showdown that could ultimately land before the Supreme Court. The implications of this potential escalation are staggering. A reversal of the trade court’s ruling could resurrect the tariffs, reigniting trade tensions with major partners like China, the European Union, and Canada.

Such an outcome would likely disrupt global commerce, exacerbate inflationary pressures, and erode the fragile confidence that markets have only just begun to regain. Conversely, if the Supreme Court upholds the current ruling, it could herald a period of relative stability, allowing businesses to plan with greater certainty and investors to focus on growth opportunities rather than defensive strategies.

It’s worth noting that the trade court’s decision doesn’t eliminate all tariff-related risks. Levies imposed under separate authorities—such as Section 232 tariffs on steel and aluminum and Section 301 tariffs targeting automobiles—remain in place. These measures continue to distort pricing and competitiveness in key industries, serving as a reminder that US trade policy remains a patchwork of protectionist impulses and legal challenges.

For now, though, the blocking of the global tariffs has tilted the risk sentiment in a more optimistic direction, offering markets a reprieve from one of the more ominous clouds on the horizon.

Nvidia’s earnings: A tech titan lifts spirits

While trade policy drama unfolds, Nvidia Corp. has provided a much-needed dose of optimism with its latest earnings report. CEO Jensen Huang’s confident assertion that the AI computing market is poised for “exponential growth”—even in the face of a slowdown in China—has soothed investor nerves and underscored the company’s resilience. Nvidia, a linchpin of the tech sector, reported a solid sales forecast that defied expectations of a China-driven slump, reinforcing its status as a market leader in semiconductors and artificial intelligence.

This performance is more than just a corporate success story; it’s a psychological anchor for a market grappling with uncertainty. The tech-heavy Nasdaq Composite may have dipped 0.5 per cent overnight, alongside the S&P 500 and Dow Jones (both down 0.6 per cent), but Nvidia’s results have injected a forward-looking positivity that transcends those short-term losses. Huang’s emphasis on AI’s growth potential taps into a broader narrative of technological innovation as a driver of economic progress, offering a counterweight to the geopolitical and macroeconomic headwinds buffeting other sectors.

That said, Nvidia’s triumph doesn’t erase the broader vulnerabilities within the tech industry. Supply chain bottlenecks, rising input costs, and the ever-present spectre of US-China tensions could still derail the sector’s momentum. China remains a critical market for Nvidia, and any escalation in trade disputes—or new restrictions on technology transfers—could complicate its growth trajectory.

For now, though, the company’s earnings have acted as a catalyst for improved risk sentiment, bolstering confidence in tech stocks and, by extension, the wider market.

Currencies and commodities: A tale of diverging signals

The shifting risk landscape has left its mark on currency and commodity markets, revealing a nuanced interplay of confidence and caution. The US dollar strengthened by 0.4 per cent, reflecting its enduring appeal as a safe-haven asset even as risk sentiment improves.

This appreciation has come at the expense of the yen, which weakened by 0.8 per cent, as investors pivot away from traditional safe-haven currencies in favour of riskier assets. The dollar’s resilience suggests that, despite the positive headlines, some market participants remain wary of unresolved risks—like the tariff appeal or geopolitical flare-ups.

In commodities, gold prices slipped 0.4 per cent to just below US$3,300 per ounce, a clear sign that haven demand is waning as investors feel less need for a defensive hedge. This decline aligns with the surge in risk appetite following the trade court ruling and Nvidia’s earnings, as capital flows back into equities and other growth-oriented investments.

Meanwhile, Brent crude oil tells a different story, rising 1.3 per cent to hover around US$65 per barrel. The tariff ruling has bolstered expectations of stable global demand, supporting oil prices even as other commodities soften.

These movements paint a picture of a market in transition—optimistic about the near term but not fully convinced that all risks have dissipated. The divergence between gold and oil highlights the uneven nature of this sentiment shift, with energy markets buoyed by trade relief and precious metals reflecting a cautious retreat from panic mode.

As the tariff appeal process unfolds, these markets will remain sensitive barometers of investor confidence, reacting swiftly to any hints of escalation or resolution.

The crypto conundrum: Bitcoin and Ethereum take centre stage

Perhaps the most intriguing subplot in this financial narrative is the evolving role of cryptocurrencies, particularly Bitcoin and Ethereum, against the backdrop of geopolitical and market developments. US Vice President JD Vance has thrust Bitcoin into the spotlight with his remarks at the Bitcoin Conference in Las Vegas, arguing that China’s hostility toward the cryptocurrency should spur the US to embrace it as a strategic asset.

Citing China’s ban on crypto trading and mining since 2021, Vance framed Bitcoin as a potential counterweight to Beijing’s influence in the digital economy, echoing President Trump’s March executive order establishing a strategic Bitcoin reserve with government-held tokens.

This rhetoric marks a striking shift in how cryptocurrencies are perceived—not just as speculative investments but as tools of national strategy. Trump’s pro-crypto stance, cultivated during his campaign with promises to be a “crypto president,” has already fuelled a resurgence in digital assets.

Bitcoin’s market cap recently crossed US$2 trillion, a milestone that underscores its growing mainstream acceptance. Yet, as Vance suggests, its strategic value may lie less in its price and more in its ability to position the US as a leader in a domain where China has ceded ground.

Ethereum, meanwhile, is carving out its own narrative, buoyed by predictions that it could outpace Bitcoin as institutional investors rotate into assets with staking yields. Trading above US$2,600 after a 40 per cent rally in May—spurred by the successful Pectra upgrade—Ethereum has regained prominence, flipping the ETH/BTC pair upward by more than 30 per cent since November 2022.

Analysts argue that Bitcoin’s dominance may be nearing a ceiling, as its massive market cap introduces diminishing returns that could cap its upside potential. Ethereum bulls, however, must defend key technical levels—like the rising trendline and 50-period EMA—to sustain this momentum and cement its edge.

The interplay between these two cryptocurrencies reflects broader market dynamics. Bitcoin’s ascent has been turbocharged by institutional inflows, with firms like Trump Media and Strive eyeing Bitcoin treasury strategies inspired by earlier adopters.

Yet, Ethereum’s appeal to large investors—thanks to its staking rewards in a low-yield world—positions it as a potential dark horse. Whether this sparks a new “altseason” remains uncertain, but the competition between Bitcoin and Ethereum underscores the crypto market’s maturation and its increasing entanglement with traditional finance.

Piecing it all together

Stepping back, the global financial system appears to be at a pivotal juncture, balancing newfound optimism with persistent uncertainties. The trade court’s tariff ruling and Nvidia’s earnings have undeniably improved risk sentiment, as evidenced by rising equity futures and a softening of haven assets like gold.

Yet, the looming appeal of the tariff decision injects a dose of unpredictability that could upend this fragile equilibrium. Similarly, while cryptocurrencies offer tantalising opportunities—strategic for Bitcoin, yield-driven for Ethereum—their volatility and regulatory unknowns temper their promise.

For investors, this environment demands a delicate dance between seizing growth prospects and guarding against potential shocks. The tech sector, buoyed by Nvidia, offers a compelling case for optimism, but its reliance on global supply chains leaves it exposed to trade disruptions.

Currencies and commodities, meanwhile, signal a market that’s cautiously shedding its defensive posture without fully committing to a risk-on stance. And in the crypto realm, the US’s strategic pivot could redefine the digital asset landscape, though success hinges on navigating a minefield of risks.

As I see it, the weeks and months ahead will hinge on how these threads resolve. A Supreme Court ruling on tariffs could either cement the current rally or plunge markets back into turmoil. Nvidia’s ability to sustain its AI-driven momentum will test the tech sector’s resilience, while the crypto market’s fate may rest on regulatory clarity and institutional adoption.

For now, the global risk sentiment is brighter than it was, but it’s a brightness tinged with shadows—shadows that demand vigilance, critical thinking, and a willingness to adapt. In this complex, interconnected world, the only certainty is that the story is far from over.

Source: https://e27.co/market-insights-ethereum-challenges-bitcoins-dominance-us-dollar-strengthens-gold-dips-as-trade-tariff-fears-ease-20250529/

Anndy Lian

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com

j j j

May 5th, 2025

Market wrap: Global optimism boosts stocks, Bitcoin holds support , Ethereum bulllish

The improved global risk sentiment stems largely from renewed optimism surrounding prospective trade deals and a surprisingly robust US jobs report. The April nonfarm payrolls data, which revealed the addition of 177,000 new jobs, well above the consensus estimate of 138,000, has bolstered confidence in the resilience of the US economy.

Meanwhile, the unemployment rate has held steady at 4.2 per cent, indicating a labour market that, while not showing signs of significant slowdown, remains balanced. However, this rosy picture comes with a caveat: the lingering effects of recent tariffs have yet to fully materialise in the economic data. As these measures filter through supply chains and consumer prices, their impact could temper this optimism in the months ahead, introducing an element of uncertainty that investors would be wise to monitor.

In the equity markets, the S&P 500 has emerged as a standout performer, climbing 1.5 per cent and extending its winning streak to nine consecutive days—the longest such run in two decades. This remarkable rally, which has seen gains across all major sectors, reflects a broad-based confidence among investors, likely fuelled by the combination of strong economic fundamentals and expectations of continued policy stability. Such an extended period of uninterrupted gains is rare and speaks to the current strength of market sentiment.

Yet, history suggests that prolonged upward trajectories can sometimes precede corrections, as valuations stretch and profit-taking becomes tempting. For now, though, the focus remains on the positive, with corporate earnings season providing further opportunities to gauge the health of US businesses. With 2,043 firms, including 94 from the S&P 500, set to report between May 5 and May 9, these results will offer critical insights into whether this rally has legs or if cracks are beginning to form beneath the surface.

The bond market, meanwhile, has seen a notable shift, with US Treasury yields rising across the curve. The 10-year Treasury yield increased by 9.1 basis points to close at 4.308 per cent, while the two year yield surged by 12.5 basis points to 3.824 per cent. This upward movement in yields signals a retreat from recession fears that had previously weighed on investor sentiment. Market participants now appear to anticipate that the Federal Reserve will keep interest rates steady for an extended period, a stance that aligns with the robust jobs data and easing concerns about an economic downturn.

Higher yields can serve as a double-edged sword: they attract income-seeking investors and bolster confidence in risk assets, but they also raise borrowing costs, which could eventually constrain growth in sectors reliant on cheap credit, such as real estate and consumer goods. For now, the market seems to be interpreting this development as a sign of strength rather than a harbinger of trouble.

Currency and commodity markets have also responded to these dynamics. The US Dollar index slipped by 0.22 per cent to 100.030, reflecting a slight weakening against a basket of major currencies. This decline aligns with the improved global risk appetite, as investors shift away from the dollar’s traditional safe-haven status toward higher-yielding opportunities elsewhere.

Gold, another classic safe-haven asset, edged up by 0.04per cent, a modest gain that might seem puzzling amid a weakening dollar and rising risk sentiment. This uptick could indicate a hedging strategy among some investors, perhaps as a precaution against potential inflationary pressures or geopolitical surprises down the road. In contrast, Brent crude oil has continued to slide, dropping 1.4 per cent and marking its second consecutive weekly loss.

Investors are now keenly awaiting the outcome of the OPEC+ meeting, which could either stabilise prices through production adjustments or exacerbate the decline if supply outpaces demand expectations. Oil’s trajectory remains a wildcard, heavily influenced by both economic and geopolitical factors.

Across the Pacific, Asian markets have mirrored this optimism, with equities and foreign exchange rates rallying late last week on hopes of an improving relationship between the United States and China. Such a thaw in tensions could have far-reaching implications, easing trade frictions that have disrupted global supply chains and weighed on economic growth in recent years.

For export-driven economies in Asia, this development is particularly encouraging, as it promises a more favourable environment for trade and investment. Closer to home, Singapore’s political landscape has provided another dose of stability, with the ruling People’s Action Party (PAP) securing a stronger mandate in the latest election. The party’s popular vote rose to 65.5 per cent from 61.2 per cent in 2020, signalling continuity in governance and policy—a factor that typically reassures markets and supports economic confidence in the region.

Looking ahead, the week promises to be eventful, with key central bank decisions from the Federal Reserve and the Bank of England on the horizon. These announcements will be pivotal in shaping expectations around monetary policy, particularly as inflation, growth, and geopolitical risks remain in focus.

The Fed’s stance, in particular, will be scrutinised for any hints of deviation from its current pause, given the mixed signals from rising yields and strong economic data. At the same time, the ongoing US earnings season will provide a granular view of corporate performance, offering clues about whether the S&P 500’s rally is grounded in sustainable profits or simply buoyant sentiment.

Turning to the cryptocurrency space, Bitcoin and Ethereum present intriguing narratives of their own. Bitcoin has returned to its yearly open price and appears to be in an accumulation phase, characterised by sideways price action rather than aggressive moves in either direction. This consolidation often serves as a precursor to a breakout, and the key level to watch is 93,548. If Bitcoin can hold above this threshold, the psychologically significant 100,000 mark comes into view, a milestone that could ignite further enthusiasm among traders and investors.

However, the downside risks are equally noteworthy. Should Bitcoin falter, support levels at 91,619 (a swing low from April 24), 90,561 (an old break-away gap on the four-hour chart), and 88,500 (a former resistance zone) will come into play. A break below 88,000 would mark a significant shift, potentially signaling a broader reversal in sentiment. For now, the market seems poised on the edge of possibility, with traders eyeing both the upside potential and the pitfalls below.

Ethereum, meanwhile, is exhibiting its own consolidation pattern, trading at US$3,150 on Binance as of May 5, up a modest 1.2 per cent over the past 24 hours. Since April 28, it has oscillated between a support level of US$3,000 and resistance at US$3,250, a tight range that hints at pent-up volatility. Trading volume for ETH/USDT on Binance has jumped by 15 per cent to 320,000 ETH in the last 24 hours, reflecting growing interest among market participants.

On-chain data from Glassnode adds a layer of optimism, showing an increase in wallet addresses holding more than 10 ETH—an indication of accumulation by larger investors, often a bullish signal. Network activity further supports this narrative, with daily transactions rising seven per cent to 1.2 million on May 4, underscoring Ethereum’s sustained user engagement. For traders, the consolidation suggests a potential upward move if resistance at US$3,250 gives way, though a failure to break out could see prices retreat toward the lower end of the range.

Stepping back, the broader market outlook reflects a delicate balance between opportunity and caution. The positive momentum—driven by strong US economic data, hopes of trade resolutions, and a stable political backdrop in places like Singapore—provides a solid foundation for risk assets. Yet, the spectre of tariffs, geopolitical uncertainties, and the possibility of policy shifts from central banks introduces risks that cannot be ignored.

In the cryptocurrency realm, Bitcoin and Ethereum are at pivotal junctures, with technical patterns and on-chain metrics pointing to potential upside, tempered by the need to hold critical levels. For investors, this environment calls for a nuanced strategy: embracing the current wave of optimism while remaining vigilant for signs of strain.

Diversification, close attention to macroeconomic cues, and adaptability will be key to thriving in this dynamic landscape, where the interplay of global forces continues to shape the path ahead.

Source: https://e27.co/market-wrap-global-optimism-boosts-stocks-bitcoin-holds-support-ethereum-bulllish-20250505/

Anndy Lian

www.anndy.com

j j j

March 25th, 2025

Treasury yields up, Ethereum down: Tariffs hit traditional and crypto

Looking at the evolving narrative around Trump’s tariff policies and their ripple effects across markets, currencies, commodities, and cryptocurrencies. The question at hand offers a rich tapestry of data points—ranging from US economic indicators to equity market movements, Treasury yields, and the intriguing interplay between Trump’s America-First agenda and the crypto sphere.

A blend of optimism for market resilience and a healthy scepticism about the long-term implications of protectionist policies shapes my perspective. Let’s dive into this multifaceted story, unpacking the facts, analysing the trends, and offering a grounded take on what it all means.

The weekend headlines suggesting that Trump’s reciprocal tariffs, slated for April 2, might be more targeted and flexible than feared have undeniably lifted global risk sentiment. This shift in tone is a breath of fresh air for investors who’ve been bracing for a blunt, across-the-board trade war that could throttle growth and stoke inflation. The idea that the administration might tailor these tariffs—perhaps sparing certain sectors or negotiating carve-outs—hints at a pragmatic streak beneath the bombastic rhetoric.

It’s a signal that Trump, now in his second term, may be tempering his approach with an eye on economic stability rather than just political theatre. Markets responded swiftly, with the S&P 500 climbing 1.8 per cent, the Dow Jones gaining 1.4 per cent, and the Nasdaq surging 2.3 per cent, driven by a 3.4 per cent rally in the “Magnificent Seven” megacaps—think Apple, Amazon, and Nvidia. This buoyancy reflects a collective sigh of relief, a belief that the tariff storm might not be as destructive as anticipated.

On the data front, the US March PMIs paint a nuanced picture. The uptick in the Services PMI is a welcome surprise, easing fears of a sharp economic slowdown and suggesting that the consumer-driven backbone of the US economy remains intact. Services, after all, account for over two-thirds of US GDP, so any sign of resilience here is a bulwark against recession chatter.

But the manufacturing PMI slipping back into contraction territory—below the 50 threshold—raises a red flag. The culprit? A tariff-related spike in materials costs. Manufacturers are already feeling the pinch of uncertainty, with supply chains recalibrating and input prices ticking up.

This divergence between services and manufacturing underscores a bifurcated economy: one part humming along, the other creaking under trade policy pressures. It’s a reminder that tariffs, even if targeted, don’t operate in a vacuum—they ripple through production networks, hitting some sectors harder than others.

The bond market’s reaction reinforces this cautious optimism tinged with concern. US Treasuries fell on Monday, pushing yields up across the curve. The 2-year yield rose 8.6 basis points to 4.035 per cent, while the 10-year yield climbed 8.8 basis points to 4.335 per cent. This uptick reflects a dialling back of expectations for Federal Reserve rate cuts, as investors digest the possibility that tariffs could keep inflation stubbornly above the Fed’s two per cent target.

Atlanta Fed President Raphael Bostic’s comments amplify this shift: he’s now projecting just one rate cut in 2025, down from two, and doesn’t see inflation hitting two per cent until early 2027. That’s a significant recalibration, signaling that the Fed might stay hawkish longer than hoped, especially if tariff-induced price pressures persist. The Fed’s reticence to push back on this market repricing suggests they’re in wait-and-see mode, letting the data—and Trump’s policy moves—dictate the pace.

The US Dollar Index, up 0.2 per cent to 104.30, its highest since early March, is another piece of the puzzle. A stronger dollar aligns with the narrative of a US economy holding its own amid global uncertainty, bolstered by higher yields and a perception of relative safety. But it’s a double-edged sword—while it boosts purchasing power for American consumers, it squeezes exporters and multinational corporations, potentially denting S&P 500 earnings down the line.

Commodities, meanwhile, tell a split story: gold dipped 0.4 per cent, perhaps as risk-on sentiment reduced its safe-haven appeal, while Brent crude rose 1.2 per cent to US$69.11 per barrel, buoyed by supply-side optimism or perhaps a flicker of demand recovery in Asia.

Speaking of Asia, the MSCI Asia ex-Japan index snapping a three-day losing streak with a 0.46 per cent gain is a subtle but telling sign. India’s SENSEX 30, up 1.40 per cent, has clawed back nearly all its year-to-date losses, showcasing the resilience of an economy less exposed to US trade whims.

Chinese stocks, too, caught a bid—Hang Seng up 0.91 per cent, CSI 300 up 0.51 per cent — possibly reflecting hopes that targeted tariffs might spare Beijing the worst. Yet early trading today showed mixed results across Asian indices, hinting that the relief rally might be fragile, contingent on further clarity from Washington.

Now, let’s pivot to crypto, where Trump’s influence is weaving an unexpected thread. Bitcoin spot ETFs saw a net inflow of US$84.17 million yesterday, marking seven straight days of gains. Fidelity’s FBTC led the pack with US$82.85 million, pushing its historical total to US$11.47 billion, while Bitwise’s BITB added US$19.23 million. Even with Ark Invest’s ARKB shedding $40.97 million, the broader trend is clear: institutional appetite for Bitcoin remains robust.

This resilience stands in contrast to Ethereum, which is grappling with its own challenges. ETH tested resistance at US$2,069 on Monday, buoyed by transaction fees hitting an all-time low—a double-edged sword. Lower fees might attract users, but they also signal waning network activity, a bearish undercurrent for a blockchain whose valuation hinges on usage. Grayscale’s research team nailed it: Ethereum’s price weakness—down 35 per cent in two months—ties directly to this fee slump and a broader crypto downturn sparked by Trump’s tariff threats.

The correlation between crypto and macroeconomics is tightening, and Trump’s policies are a big driver. US spot Ethereum ETFs have bled nearly US$390 million over 13 consecutive days of outflows, per Farside data, while on-chain metrics like transaction counts echo pre-election lows. Validators and token burners, who rely on fees, are feeling the pinch, undermining ETH’s value proposition.

Yet here’s where it gets fascinating: Trump Media and Technology Group (TMTG) is diving headfirst into this space, partnering with Crypto.com to launch “America-First Investment Funds” under the Truth.fi brand. These ETFs and SMAs, backed by a US$250 million TMTG investment and custodied by Charles Schwab, will span cryptocurrencies and “Made in America” securities—think energy and manufacturing. Trademarks like Truth.Fi Bitcoin Plus ETF and Truth.Fi US Energy Independence ETF scream Trump’s playbook: blending nationalism with financial innovation.

This move is a masterstroke of branding and ambition. By tying crypto to an America-First ethos, Trump’s team is betting on a narrative that could galvanise retail and institutional investors alike. It’s a counterpoint to Ethereum’s struggles—Bitcoin, with its ETF inflows, is riding a wave of momentum, while ETH languishes. The tariff flexibility hinted at over the weekend might bolster this venture further; if energy and manufacturing sectors get a pass, those “Made in America” funds could thrive, drawing capital away from more volatile altcoins like Ether.

Let me sum up. The US economy’s resilience, as seen in the Services PMI and equity gains, is real, but manufacturing’s woes and sticky inflation (thanks, tariffs) temper my optimism. The Fed’s hawkish tilt and a stronger dollar could cap upside, especially if global growth falters. In Asia, selective strength—India and China holding firm—suggests diversification might shield some markets, but the jury’s out on sustainability.

Crypto’s split fate—Bitcoin soaring, Ethereum stumbling—mirrors this dichotomy, with Trump’s Truth.fi gambit potentially reshaping the landscape. I’m cautiously bullish on equities and Bitcoin, skeptical of ETH’s near-term prospects, and watchful of how Trump’s tariff chess game unfolds. It’s a high-stakes story, and we’re only in the opening chapter.

Source: https://e27.co/treasury-yields-up-ethereum-down-tariffs-hit-traditional-and-crypto-20250325/