They say "Trump is always cowardly (TACO)," and the cryptocurrency market is waiting for that moment.
The cryptocurrency market was once isolated from traditional markets, without paying much attention to macroeconomic trends. However, it craved mainstream economic recognition and ultimately gained acceptance through institutional adoption of cryptocurrencies, corporate finance, and government regulation.
Nevertheless, the integration with traditional markets also brought risks, as macroeconomic trends began to affect the crypto market in the same way they impact stock and bond markets.
On April 2nd, President Donald Trump imposed "reciprocal tariffs" on almost all countries,
Trump called it "Liberation Day," but the cryptocurrency market, like other markets, was caught in the aftershock. Impacted by Trump's tariff policy, the cryptocurrency market capitalization plummeted from $2.74 trillion on April 2nd to $2.42 trillion on April 8th.
However, the president made a significant decision on April 9th, freezing tariff increases for most countries except China for 90 days.
"Trump is Always Cowardly"
Market analysts observed that the Trump administration adopted aggressive rhetoric on tariff policies to renegotiate trade relations with other countries and often quickly postponed the implementation of its trade threats.
