What to know:
- President Trump decided to play “Tariff Roulette” and proposed raising tariffs on European imports to 50%. Because why not add a little chaos to the market? 🎡
- Bitcoin‘s price took a little tumble but bounced back like a rubber ball after Trump hit the snooze button on those EU tariffs until July 9. Phew! 😅
- Traders are glued to their screens, waiting for the upcoming Core PCE print, which is basically the Federal Reserve’s version of a report card. 📊
Bitcoin was just 1% lower in the past 24 hours, while XRP and Dogecoin decided to join the pity party, slipping 2.5% each. It’s like a tepid recovery instead of a full-on rebound. 🥴
Markets were jolted late last week when Trump decided to raise tariffs on European imports to 50%, up from a previously discussed 20%. Because who doesn’t love a good market shake-up? 🤷♀️
“Bitcoin’s rebound came after Trump decided to delay imposing new EU tariffs, which had initially sparked a market downturn over the weekend,” Jeffrey Ding, chief analyst at HashKey Group, told CoinDesk in a Telegram message. Sounds like a classic case of “Oops, my bad!”
“Traders see these macroeconomic events as a welcome stability boost, encouraging a risk-on sentiment, especially as MicroStrategy’s Michael Saylor hinted at upcoming Bitcoin purchases,” Ding added. Because nothing says stability like a guy named Michael buying Bitcoin! 💁♂️
Markets calmed somewhat on Monday after Trump announced he would delay the implementation of new tariffs until July 9, citing a “constructive call” with European Commission President Ursula von der Leyen. Constructive? More like “let’s not ruin the weekend!”
Still, Singapore-based QCP Capital warned in a market broadcast message late Monday that this episode is a reminder of how quickly policy shocks can unwind market calm. It’s like a soap opera, but with more spreadsheets! 📉
The BTC July-to-June implied volatility spread, which spiked above 2 vols last week, has now compressed to below 1 — suggesting traders are watching closely for another pivot ahead of the new deadline. It’s like waiting for the next season of your favorite show! 📺
The vol spread refers to the difference in expected volatility between July and June bitcoin options, showing how much more (or less) traders expect price swings in July compared to June. Spoiler alert: it’s complicated! 🤔
All eyes are now on this Friday’s Core PCE print, a key inflation gauge for the Federal Reserve. This index is like the Fed’s secret sauce for assessing inflation, minus the spicy food prices. 🌶️
Despite the uncertainty, spot ETF inflows remain steady, with BlackRock’s IBIT logging 30 consecutive days of net inflows — a rare streak that underscores sticky institutional interest. It’s like the crypto version of a winning lottery ticket! 🎟️
Still, crypto’s resilience has been relative, not absolute. QCP noted a divergence between digital assets and traditional tech as flows have turned cautious in products like the TQQQ NASDAQ ETF, even as crypto held its ground. It’s like watching a toddler hold their ground against a giant! 🧒
“In a world of erratic policymaking,” QCP wrote, “crypto increasingly looks like the grown-up at the table.” And we all know how rare that is! 🍷
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2025-05-27 10:28