Swan Bitcoin CEO Cory Klippsten said Bitcoin's price plunge on Friday was "classic macro whiplash," and Bitcoiners should expect turbulence in the short term. Swan Bitcoin CEO Cory Klippsten said Bitcoin’s price volatility may not be over after the cryptocurrency briefly fell to $102,000 on Friday, following US President Donald Trump’s announcement of a 100% tariff on Chinese imports. “If the broader risk-off mood holds, Bitcoin can get dragged around a bit before it finds support and starts to decouple again,” Klippsten told Cointelegraph on Friday. Klippsten said that Bitcoiners should expect some turbulence over the coming days. “Macro-driven dips like this usually wash out leveraged traders and weak hands, then reset positioning for the next leg up,” Klippsten said. Read more
Bitcoin plunged to $102,000 in the Binance perpetual futures pair after Trump announced sweeping tariffs on China on Friday, reigniting fears of a broader trade and market sell-off. US President Donald Trump announced a 100% tariff on China on Friday, sending the price of Bitcoin (BTC) reeling below $110,000 at the time of writing. Trump said the tariffs were in response to China attempting to place export restrictions on rare earth minerals, which are crucial for creating computer chips. Trump wrote on Truth Social: Trump’s first tariff announcements in April sent shockwaves through crypto markets and sparked fears of a recession. Read more
A global survey finds investors are deepening exposure to blockchain and AI, though many remain skeptical that decentralized finance will take over traditional markets. Institutional investors are deepening their involvement in digital assets and emerging technologies such as blockchain and AI, according to a new State Street report — though many remain split on whether decentralized finance can ever fully blend with traditional markets. The study found that digital assets currently make up about 7% of institutional portfolios, a figure expected to climb to 16% by 2028. Most holdings are concentrated in digital cash (stablecoins) and tokenized versions of listed equities or fixed income, with respondents allocating about 1% of their portfolios to each and asset managers maintaining greater exposure. Read more