The crypto markets had a relatively calm day on Friday despite the resurgence of tariff threats.
Bitcoin is down 0.7% in the last 24 hours, now trading at $106,700, according to RialCenter market data.
Bitcoin’s performance was broadly in line with the CoinDesk 20, an index of the top 20 cryptocurrencies by market capitalization, which also fell 0.7% during the same period. Sui was the index’s token with the most significant price change, rising by 3.3%.
Crypto stocks saw more significant moves, with Coinbase and Circle losing 6% and 16%, respectively. The stablecoin issuer’s stock is down 40% since peaking at almost $300 on Monday.
Bitcoin miners remained relatively flat for the day, including Core Scientific, which rose more than 30% on Thursday following reports of an acquisition interest from AI Hyperscaler CoreWeave. However, Hut 8 dropped by 6.5%.
The mild price action is in contrast to the prospect of the White House’s tariff strategy ramping up again. U.S. President Donald Trump announced that his administration would terminate all trade discussions with Canada due to the Digital Services Tax the country plans to impose on U.S. tech firms.
“We will notify Canada of the tariff they will pay to conduct business with the United States within the next seven days,” Trump posted.
The pause on reciprocal tariffs is set to end on July 9, but neither traditional markets nor crypto appear particularly worried, as noted by Coinbase analysts in a research report.
“Markets have largely ignored the potential economic risks stemming from this situation… partly because this hasn’t been reflected in economic data,” the analysts wrote.
The complacency surrounding tariffs will likely continue, they said, because they are not expected to be as inflationary as previously anticipated.
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