The growing concern that has been driving the US market, since President Donald Trump centered on Tariff commerce wars to assist ship on his marketing campaign guarantees, has trickled right down to the crypto market. The Bitcoin’s concern and greed index has dropped from over 70 %, denoting greed, to round 50 %, suggesting rising concern of additional capitulation forward.
As Coinpedia reported, Bitcoin worth faces a possible drop to the assist degree of round $91k once more after being rejected above $102k within the final two days. With the altcoin trade already displaying a better constructive correlation with Bitcoin’s worth motion, it’s secure to imagine that all the crypto market faces additional short-term weakening.
US Postal Service Disrupts Parcel Supply from China
Because the Trump administration seeks to counter drug trafficking from China to america, the U.S. Postal Service introduced it would briefly droop worldwide package deal acceptance from China and Hong Kong posts, efficient February 4, 2025.
Nevertheless, the US Postal Service will proceed to allow the movement of letters and flats from China and Hong Kong.
Affect on the Crypto Market
The US Postal Service has been a significant enabler of enterprise enlargement between China and america, extra so within the e-commerce sector, through the previous few years. In 2024, there have been 4 million packages value lower than $800 per day from China.
The most recent non permanent suspension of worldwide package deal acceptance from China and Hong Kong will closely influence e-commerce giants led by Shein and Temu. Already, the usage of digital belongings within the China-US commerce had gained important momentum.
Furthermore, the strategies of cost between retailers and prospects of the 2 nations embody PayPal, Visa, Apple Pay, MasterCard, and Google Pay, amongst others, which have closely adopted digital belongings.
