Hold on to your hats, folks! The crypto world is buzzing, and frankly, it’s been a rollercoaster this week. Let’s dive into the chaos.
First up, the US Customs and Border Protection just dropped a bombshell: partial tariff exemptions for tech goodies like computers, servers, and smartphones. The catch? If at least 20% of the import is ‘Made in USA,’ only the ‘non-US’ part gets hit with extra tariffs. About time we saw some sense, honestly.
Meanwhile, the SEC is thinking about a short-term crypto regulatory framework. Yeah, ‘thinking.’ Current temporary SEC Chairman Mark Uyeda suggests a time-limited approach to encourage innovation while they figure out the long game. Sounds like a band-aid on a bullet wound, but hey, it’s something.
Former Treasury Secretary Larry Summers is calling the current tariffs ‘fraudulent,’ saying they’re just jacking up prices and are the worst economic policy since WWII. Harsh words, but he’s not wrong. This whole trade war mess is hurting everyone.
On the brighter side, Senator Tim Scott predicts the crypto market structure bill could pass by August. He’s prioritizing crypto policy, which is a HUGE win. And BlackRock CEO Larry Fink wants all assets traded on blockchains! Tokenization is going to be massive, and he gets it.
Whales are waking up too! The number of Bitcoin addresses holding 10+ BTC has surged – the biggest jump since February. This happened right after Trump announced a 90-day tariff pause, which initially spooked the market. Confidence is returning, people.
Analyst Ali Martinez says ETH might be hitting a macro bottom, while CarpeNoctom points out mean reversion opportunities in the market, but warns against low-cap tokens. Careful out there, folks – not everything that glitters is Bitcoin.
Finally, ETH’s adjusted dormancy flow metric dipped below 1 million, historically hinting at a potential macro bottom. Long-term holders aren’t rushing to exit, which is a bullish signal, if you ask me!
