Oh, the woes of the crypto trader! 💸 As if navigating the turbulent seas of digital currencies weren’t enough, now President Donald Trump, with his penchant for throwing tariff grenades, has stirred the pot, leaving the market churning like a tempestuous cauldron.
The White House, in its infinite wisdom, has decided to slap hefty tariffs on our neighbors to the north and south, Canada and Mexico, and a hefty levy on the Chinese, who, by the way, are likely to respond in kind. The Canadians, in a fit of pique, retaliated with their own tariffs, targeting $106 billion of American goods. Mexico, it seems, is poised to follow suit, adding fuel to the already roaring fire. 🔥
Analysts at QCP Capital, a Singapore-based crypto trading firm, have observed this chaotic scene with a mixture of amusement and trepidation. They have witnessed the Treasury yields bearing-flattened, with 2-year yields soaring and 10-year yields plummeting. This, they say, points to a short-term concern about inflation and a looming, long-term trade war, much like a looming storm cloud on the horizon. ☁️
Equities, like startled birds, have taken flight, gold prices have danced a jig of uncertainty, oil prices have skyrocketed, and the crypto market has taken a nosedive. 📉 QCP Capital believes this uncertainty will linger as President Trump, in his inimitable style, prepares for talks with Canada and Mexico, while also threatening new tariffs on the European Union. It seems, dear reader, that Trump’s rhetoric is as potent as a Molotov cocktail in the realm of global trade.
“They don’t take our cars, they don’t take our farm products. They take almost nothing, and we take everything,” Trump lamented about the European Union, seemingly oblivious to the fact that his tariff-slinging antics are creating a global domino effect. domino domino domino
The analysts at QCP Capital, in their astute observations, note that the growing gap between New York and London gold prices suggests traders are scrambling to unwind their investments or facing difficulties moving gold between vaults. One can almost picture them frantically trying to navigate a maze of bureaucratic red tape. 🏃♂️🏃♀️
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2025-02-03 13:14