Bitcoin trades flat whereas Ethereum climbs and XRP dips.
Main digital belongings held their floor on Tuesday, regardless of rising geopolitical tensions, as President Donald Trump threatened steep tariffs on almost a dozen international locations starting subsequent month.
The worldwide crypto market cap fell 3% over the previous 24 hours to $3.43 trillion. Bitcoin (BTC) is at the moment buying and selling close to $108,400, flat on the day however nonetheless up 2.3% over the previous week. Ethereum (ETH) gained 1.6% previously 24 hours and is now up over 6% within the final seven days, outperforming different prime digital belongings.
XRP, however, fell 2.1% on the day, buying and selling at $2.29, whereas Solana (SOL) additionally traded flat at $150.
Leveraged liquidations got here in at $149 million on the day, with BTC accounting for $33.6 million of the whole. This was adopted by ETH at almost $30 million and altcoins with near $20 million.
U.S. spot Bitcoin exchange-traded funds (ETFs) attracted almost $217 million inflows on July 7, the third buying and selling day of consecutive inflows, whereas spot ETH ETFs recorded round $62 million inflows, based on SoSoValue information.
As of at the moment, BlackRock, the world’s largest asset supervisor, holds over 700,000 BTC (value round $75.86 billion) in its iShares Bitcoin Belief (IBIT) ETF.
In the meantime, on-chain analytics platform Glassnode revealed earlier at the moment that final Friday, over 80,000 BTC that had been final energetic over 5 years in the past moved on-chain. Glassnode referred to as it “a rare event” because it at the moment marks the third-largest single-day revival of outdated BTC provide in historical past.
The transfer occurred at a worth of round $108,000, making the whole quantity of BTC value over $8.6 billion. Glassnode’s information was evidently referring to the long-dormant BTC whale The Defiant beforehand reported on, which was probably not shifting funds to promote, based on Arkham.
Trump’s Tariffs
The crypto market’s resistance comes as traders react to Trump’s plan to deliver again excessive tariffs on items from almost a dozen international locations beginning August 1.
In a collection of social media posts Monday, Trump mentioned items from international locations like Japan, South Korea, Malaysia, and South Africa will face tariffs starting from 25% to 40%. He additionally shared screenshots of letters warning leaders to not retaliate with their very own tariffs, including that any enhance can be matched by the U.S.
“As per letters sent to various countries yesterday, in addition to letters that will be sent today, tomorrow, and for the next short period of time, TARIFFS WILL START BEING PAID ON AUGUST 1, 2025,” the president wrote on Reality Social earlier at the moment.
“There has been no change to this date, and there will be no change.” Trump additional emphasised that “no extensions will be granted.”
The brand new tariffs observe Trump’s earlier “liberation day” tariffs, which had been introduced in April and later paused for 90 days following market turmoil.
