Cryptocurrency markets navigate surprises, balancing downturn anticipation and bullish potential.
The beginning of the week suggested another turbulent period for cryptocurrencies. Former U.S. President Trump’s announcement on new tariff rates on several countries stirred discussions, yet surprised few due to its similarity with the April 2 Liberation Day declarations. Vietnam managed to gain benefits through a separate agreement, while other nations faced tariffs almost identical to the previous rates. This situation leads to questions as to why the world endured months of tariff tensions.
ContentsTariffs and Trump’s ImpactChainlink (LINK) and OKB Coin Dynamics Tariffs and Trump’s Impact
Although the connection to cryptocurrencies might seem tenuous, the U.S. tariff policies hold significant importance for global trade. These tariffs also influence global inflation and affect central banks’ interest rate policies. The Federal Reserve is potentially considering unexpected interest rate cuts, with the newly declared tariffs fueling such deliberations.
Starting from August 1, average tariffs exceeding 20% become permanent, with even Vietnam subjected to this rate despite its agreement. Therefore, the Fed needs to calculate the average 20% tariff’s effect on inflation before formulating policies. This gives them the right to observe the sustained tariffs’ impact on inflation for one or two more months. Markets have not yet priced in this pessimistic scenario.
Chainlink (LINK) and OKB Coin Dynamics
Cryptocurrencies are full of surprises, and while the clearance of tariff uncertainties is awaited, the current rates could potentially lead to further declines. Conversely, other factors such as ETF approvals might unexpectedly drive a rapid increase, as most were anticipating a downturn.
Analyst Poppe advises those waiting to buy LINK Coin about a critical level in the BTC pair. He suggests that with altcoins finding their bottom, closing above 1400 sats could provide a good entry point for potential gains.
For those considering selling, the peak target stands at the 0.0001644 BTC region, offering a potential 113% gain for the right entry positions in the BTC pair.
Phoenix mentions a possibility aligned with current news, suggesting a return for BTC to the $105,000 region. He notes that a dip before a rise would be unsurprising. However, BTC has previously made such moves multiple times before recent peaks, weakening investors’ belief in a genuine breakout.
Efloud, one of the well-known Turkish cryptocurrency experts, shared the latest chart for OKB Coin. He mentioned tracking the $43.3-$42.4 range for a bullish market structure closely on lower time frames, including assessing the “2021 ATH” level and the red box area using range theories.
Potential losses extending to $30.7 in a general market decline and gains surpassing $63 during a rally seem plausible.
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