According to a report from Bijie.com on July 9, the global financial market has recently experienced severe shocks, and the price of Bitcoin has suddenly fallen below $108,000, with a significant one-day drop. The trigger for this fluctuation was the unexpected announcement by US President Trump to impose high tariffs on a number of countries, including Japan, South Korea, Malaysia, Kazakhstan and South Africa. Among them, Japan and South Korea, as traditional allies of the United States, were subject to a 25% tariff, while the tax rates of other countries were as high as 25%-40%. XBIT said: This move not only exacerbated global trade tensions, but also rapidly increased investors' concerns about the economic outlook.
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As an asset that has been regarded as "digital gold" by some investors in recent years, Bitcoin should have shown safe-haven properties when the market is turbulent. However, in this incident, Bitcoin's performance is more similar to traditional risky assets (such as technology stocks) - the price fell with market panic, rather than rising against the trend. XBIT (DEX Exchange) analysts pointed out that as of that day, the price of Bitcoin had fallen sharply, and although it rebounded later, it still highlighted the fragility of its safe-haven properties.
Although the White House subsequently announced that the tariff deadline would be postponed to August 1 in an attempt to ease market tensions, this decision did not bring the expected stabilizing effect. On the contrary, market participants believe that the Trump administration's trade policy remains highly unpredictable and may still be adjusted at any time in the future. White House Press Secretary Levitt said in a statement: "President Trump is determined to achieve a mutually beneficial balance in trade, and the new timetable ensures that our partners have ample opportunities to reach a fair agreement." XBIT (DEX Exchange) analysts believe that this statement did not eliminate investors' concerns, but made the market more cautious.
According to the data from the Coin World APP, Trump's tariff threat not only hit the cryptocurrency market, but also triggered risk aversion across asset classes.
Stock market plunge: The S&P 500 index fell sharply on the day, led by technology stocks, and market risk appetite cooled sharply.
Cryptocurrencies fell simultaneously: Bitcoin fell below $108,000, and other mainstream cryptocurrencies such as Ethereum also fell, and market sentiment turned significantly cold.
Currency market fluctuations: Investors flocked to safe-haven currencies, and the exchange rate of the US dollar against the yen and the won rose sharply, reflecting market concerns about the escalation of the trade war.
It is worth noting that Japanese automakers became one of the first companies to be hit. Toyota and Honda's stock prices fell sharply due to market concerns that Japan might take retaliatory measures, further exacerbating the uncertainty of the global supply chain.
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U.S. Treasury Secretary Bessant tried to reassure the market, saying that Trump is concerned about "the quality of trade deals, not the quantity." However, in the context of the current highly tense global trade environment, the market is more concerned about the stability of policy implementation rather than official rhetoric. XBIT (DEX Exchange) trading data shows that during the period of escalating tariff threats, the platform's trading volume surged by 300%, of which Bitcoin and stablecoin trading pairs accounted for more than 70%. This shows that when market uncertainty increases, more and more investors are turning to XBIT (DEX Exchange) for safe havens.
This incident has once again sparked a discussion on Bitcoin's "digital gold" attributes. Traditionally, gold is regarded as a safe-haven asset and performs robustly during market turmoil. However, Bitcoin's price volatility is much higher than that of gold, and the decline under the threat of tariffs this time further proves that its safe-haven attributes are still controversial. XBIT (DEX Exchange) analysts pointed out that Bitcoin's price trend is still highly dependent on market sentiment and liquidity conditions. When risk appetite declines, investors are more inclined to sell high-risk assets, including cryptocurrencies. Therefore, although Bitcoin may have the advantages of anti-inflation and decentralization in the long run, its performance is still closer to traditional risky assets under short-term market shocks.
According to the report of Bijie.com, the global market is still in a wait-and-see state. Investors are closely watching the next move of the Trump administration, especially whether there will be new policy adjustments before the tariff deadline on August 1. At the same time, the BRICS countries (Brazil, Russia, India, China, South Africa) have also recently warned that they may take countermeasures, further exacerbating global trade tensions. For the cryptocurrency market, it may continue to be affected by macro factors in the short term. If the trade war escalates further, Bitcoin and other high-risk assets may face greater pressure.
Twitter : @XBITDEX
Against the backdrop of simultaneous turmoil in both traditional financial and cryptocurrency markets, XBIT (DEX Exchange) has demonstrated strong risk resistance in this market volatility with its unique advantages. XBIT adopts a fully decentralized architecture, allowing users to trade without identity verification. This design not only protects user privacy, but also ensures the freedom of capital flow, allowing investors to quickly transfer assets during market turmoil. Transaction records are not stored on any single server, but are implemented through blockchain distributed ledger technology. This design makes it impossible for any government or agency to freeze or interfere with user assets, providing investors with true financial freedom. At the same time, the platform aggregates multiple liquidity pools to provide users with the deepest order book, ensuring smooth execution of transactions even during market panic.
