Crypto markets are currently experiencing significant downturns, with a 25% tariff on imports from Canada and Mexico, and a 10% tariff on China, sparking fears of a prolonged trade war. These tariffs, affecting $1.3 trillion in goods, are seven times larger than the initial 2018 tariffs. Analysts and traders are divided on the recovery timeline for cryptocurrencies like Bitcoin (BTC). While some believe the market will rebound quickly, others, including macro trader Geo Chen, predict that the tariffs might remain in place for months, potentially escalating if retaliatory measures continue. Chen notes that the market’s understanding of the situation might take days or weeks to fully grasp, leading to persistent volatility. The situation is reminiscent of 2018 when the S&P 500 dropped 9% before recovering, but the current scenario might pose a greater challenge for risk-on assets like BTC.
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