Bitcoin, Ethereum and XRP steady as China slaps 125% tariff on US, weekend sell-off looming?
The Cryptocurrency market shows stability at the time of writing on Friday, with Bitcoin (BTC) holding steady at $82,584, Ethereum (ETH) at $1,569, and Ripple (XRP) maintaining its position above $2.00. This follows news that China has increased duties on United States imports in a fresh retaliatory move to counter President Donald Trump's 145% tariff on Chinese goods.
Bitcoin, Ethereum, Dogecoin and Cardano stabilze – Why crypto is in limbo
Crypto traders are digesting US President Donald Trump’s Liberation Day announcements last week, the tariff truce declared on Wednesday and the worsening situation with China, as the industry wraps one of its worst weeks in terms of price swings.
Bitcoin battled to hold on to its reputation as “safe-haven” during times of market uncertainty, and Ethereum slipped below the $1,500 support four times in the correction this week.
Crypto helped by Dollar weakness
Crypto market capitalisation remained at $2.59 trillion on Friday morning, in line with the previous day's values, despite a dip to $2.50 trillion overnight and a subsequent recovery on Friday morning. This contrasts with the slide in stock indices because a falling dollar supports cryptocurrencies. Like a rising tide, the dollar's decline is lifting other assets.
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