The post U.S. China Trade War Tensions Rattle Global Markets, Crypto Emerges as Safe Haven appeared first on Coinpedia Fintech News
The global trade war and negotiations are expected to drag on longer as China and the U.S. remain in impasse mode. Europe has found itself on thin ice as China makes progress in negotiations, while the U.S. side stalls.
Earlier on Tuesday, April 15, during the mid-Western financial markets, EU’s Trade Chief Maroš Šefčovič ended a two-hour meeting with Howard Lutnick, U.S. commerce Secretary, with little clarity on the deal.
The Euro slightly gained over the U.S. dollar.
Market Concerns
The prolonged trade negotiations have shaken confidence in major stock markets, led by the U.S. and Europe. On Tuesday, Jamie Dimon, CEO of JPMorgan Chase, urged the United States to engage China.
“I don’t think decoupling from China should be objective,” Dinom said.
The interrupted global supply chain is anticipated to cause inflation, particularly in the United States. Furthermore, the U.S. Dollar Index (DXY) has continued to weaken amid poor performance from major stock indexes led by the Dow and S&P 500.
Crypto’s Place in Global Trade War
The crypto market’s long-term narrative has gained more traction amid the global trade wars and negotiations. As Coinpedia reported, the ongoing Gold rush, catalyzed by capital flight by institutional investors, has helped Bitcoin price gain bullish sentiment in the past week.
According to market data from IntoTheBlock, Bitcoin whales have accelerated accumulation pace akin to the pre-2024 March rally. In the past 24 hours, more than $467 million worth of BTC was withdrawn from crypto exchanges.
However, the crypto market has yet to experience ‘crazy speculation’ as fear remains palpable. Furthermore, renowned trader Peter Brandt is not convinced a BTC price reversal in the daily time frame is valid yet.
A potential consolidation may form a reversal pattern, which may lead to bullish sentiment possibly in the second half of 2025.
