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Crypto market reacts to tariffs: analysts weigh the impact on Bitcoin and altcoins
- President Trump's tariffs have introduced uncertainty into the crypto market, affecting currency values, supply chains, and inflation outlook.
- Bitcoin is viewed as a potential hedge against inflation and a declining dollar amidst trade war concerns.
- The immediate impact of the tariffs resulted in Bitcoin selling off to $82k and Ethereum dropping below $1,800.
- Traders are adopting protective measures like put buying to shield themselves from further price declines.
- Analysts expect heightened short-term volatility and sideways consolidation in the market.
- Despite short-term turbulence, there is optimism for crypto's long-term potential amid trade war uncertainties.
- Increased usefulness of crypto for cross-border transactions is foreseen, especially in the context of tariff barriers.
- Bitcoin is seen as a safe haven amidst rising prices without growth, offering a decentralized hedge, particularly in times of uncertainty.
- Risk-off sentiment across asset classes is noted, with Bitcoin remaining relatively resilient amidst the broader market sell-off.
- Potential opportunities for Bitcoin as a hedge against a weakening dollar and potential Fed easing are highlighted.
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