The escalating trade war between the U.S. and China has led to significant market movements, yet the cryptocurrency market remains relatively stable. China increased tariffs on U.S. goods from 84% to 125%, but Bitcoin (BTC) has shown resilience, trading above $82,000. The broader crypto market, as measured by the CoinDesk 20 (CD20) index, mirrors this stability. In contrast, the U.S. Dollar Index (DXY) dropped below 100, marking its largest decline since 2022. Gold reached a new record high of $3,227.5, making Tether’s gold-backed cryptocurrency XAUT the top-performing digital asset. Analysts suggest that the U.S. may be experiencing a dollar confidence crisis, with potential implications for Federal Reserve policies. Bitcoin investors have realized losses of up to $250 million, though these losses appear to be shrinking, indicating possible seller exhaustion. Upcoming events include the U.S. SEC Crypto Task Force Roundtable and various token unlocks and launches. — new from CoinDesk
