As trade tensions resurface, Donald Trump’s aggressive rhetoric on tariffs has not caused major panic in the crypto markets. This is according to the investment firm NYDIG, which describes a “relatively orderly” situation despite an unstable economic climate.
Trump’s tariff strategy revives fears of an economic shock
- Threats of widespread tariffs: The US president recently reaffirmed his intention to impose tariffs of up to 60% on Chinese imports, and even 10% on all foreign products.
- A return to trade unilateralism: This stance calls into question the balance of international trade and worries Wall Street, where some observers fear a full-scale economic war.
Cryptoassets withstand the turmoil
- A surprisingly stable market: Unlike stocks and bonds, major cryptocurrencies, including Bitcoin and Ethereum, have not experienced massive selloffs. According to NYDIG, activity in crypto markets remains fluid, with tight spreads and low volatility.
- Normal trading flows: Data indicate that investors have not massively sought to liquidate their digital assets in the face of the protectionist threat. This suggests growing confidence in the resilience of the crypto market.
A decorrelation that could benefit digital assets
Opportunities:
- Position cryptocurrencies as an alternative to traditional assets in times of geopolitical tensions.
- Reinforce Bitcoin’s narrative as a safe haven, particularly in the face of potential inflation that new tariffs could generate.
Risks:
- An escalation of tariffs could ultimately affect the overall liquidity of markets, including crypto markets.
- Increased regulatory repression could accompany the rise of economic populism.
Conclusion
In a tense climate where traditional markets are vulnerable to political swings, the relative calm observed in crypto markets is telling. For NYDIG, this stability reflects a new maturity in the digital ecosystem. It remains to be seen whether cryptocurrencies will hold up in the event of a major trade conflict, or whether they are merely delaying the onset of a brewing storm.
