Donald Trump’s escalating tariff war has sent shockwaves through the crypto market, triggering sell-offs as the former president announced a 25% levy on aluminum and steel imports. Trump also warned of even higher tariffs for countries retaliating against US imports.
Bitcoin ($BTC) briefly dipped to $94K following the announcement, with most altcoins following suit. However, $BTC has since rebounded to $97K, suggesting that the market impact may be short-lived. The quick recovery demonstrates the growing maturity and resilience of the crypto market in the face of macroeconomic and geopolitical forces.
Despite the temporary downturn, some major players remain bullish. MicroStrategy’s Michael Saylor hinted at another potential buying spree, posting a screenshot of the company’s $BTC portfolio tracker for the first time since celebrating Trump’s inauguration with an 11K $BTC purchase. MicroStrategy’s total holdings now amount to an impressive $46.12B.
The company’s stock price has grown by 356% in 2024 and a staggering 2,101% since it began acquiring $BTC five years ago. Japanese firm Metaplanet, which adopted a similar strategy, recorded a 3,575% surge in its stock price over the past year. These figures suggest that the current dip is merely a blip on the radar, and long-term institutional and whale interest will continue to drive crypto adoption and prices.
As legacy investors accumulate $BTC, retail investors are turning to promising new projects like Wall Street Pepe ($WEPE). The meme token’s presale sold out ahead of schedule, raising over $70M in less than three months. With exchange listings imminent, analysts predict a potential 549% surge for early supporters.
$WEPE aims to empower retail investors by fostering a community that shares trading insights and strategies. The project’s successful presale and engaged community indicate strong potential for growth in the coming bull run.
While the crypto market is not immune to global events, its increasing maturity and the unwavering conviction of major players suggest that the future remains bright. As always, investors should conduct their own research and maintain a diversified portfolio to manage risk.
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Tags: Donald Trump, Tariffs, Bitcoin, Altcoins, MicroStrategy, Michael Saylor, Wall Street Pepe, $WEPE, Crypto Adoption, Bull Run
Source: https://bitcoinist.com/trump-tariffs-sell-off-wall-street-pepe-listing/