US President Donald Trump’s announcement of new tax tariffs on the import of Mexican and European Union (EU) led to fluctuations in crypto money markets. Except for the XRP, large digital currencies experienced a decrease in their values after Trump’s decision to the public. According to a statement, 30 percent of customs duties will enter into force as of August 1st.
New Trade move from Trump to Mexico and the EU
Trump reported new tax decisions to the Mexican President Claudia Sheinbaumum and the European Commission President Ursula von Der Leyen with letters published in the Truth Social account. Trump explained the reason for this step as a lack of Mexico’s efforts for border security. He also stressed that trade relations with the EU are far from equality.
Trump also sent a letter to the President of the European Commission with the EU that there is no mutual relations with the EU.
At the beginning of the week, he applied new customs duties to various countries including Trump, South Korea, Japan, Canada and Brazil. Tax rates up to 50 percent in basic commodities such as copper were announced, while these developments have created fluctuations in the markets.
Decrease in crypto currencies and the decomposition of XRP
Following Trump’s statements Bitcoin (BTC) 
$118,017.46 0.6 percent of the depreciation of $ 17,400 decreased. According to the data provider Coindesk, the price of BTC was not permanent, even though it tried to rise over $ 118,000 several times. Ether (ETH) decreased by 1 percent and was traded for $ 2,930. Solana (Left) and Dogge were over 2 percent, while the BNB suffered a loss of 0.7 percent. Despite these decreases, XRP drew attention with a 1.78 percent rise.
After the rise in the middle week, the unstable movements in the market continued. Some of the analysts predicted that the weekend would be horizontally. Accordingly, it was estimated that the mobility in the market could increase with the initiation of Asian transactions.
This statement reflected the expectations that the market will remain horizontal until the end of the week and that Bitcoin could exceed the $ 120,000 limit with the introduction of Asian markets.
While the short -term volatility in Bitcoin attracts attention, it is seen that the sales pressure has increased despite the fact that historical resistance has been attempted more than once. Analysts said that the tendency to take risks in the market may continue to watch wavy. The rise of XRP independently from the market attracted the attention of sector followers.
In the movements observed in crypto assets, it is observed that global trade policies and especially decisions taken by large economies can lead to short -term fluctuations. It is suggested that investors move cautiously throughout the crypto market, but the prices of leading digital assets such as BTC and ETH maintain their sensitivity to new developments.
Crypto money markets are expected to respond to different reactions against the above -mentioned developments. In particular, it is recommended to closely monitor the effects of new trade policies on the market and to be careful that investors should be careful in periods when volatility may be high. The fact that investors closely monitor market conditions and global developments can benefit from determining their own strategies.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
