Gold prices steady ahead of Fed decision; weekly weakness noted
Investing.com-- Bitcoin climbed slightly on Wednesday, continuing its tepid moves as investors remain sidelined amid new U.S. tariff announcements and looked ahead to the upcoming “crypto week” in mid-July for potential regulatory clarity.
The world’s largest cryptocurrency rose 0.2% to $109,480 as of 09:53 ET (13:53 GMT).
The token has traded mostly flat since last week, as traders refrained from making significant moves due to ongoing uncertainty surrounding U.S. trade agreements.
Investors await more Trump tariff action
President Trump said on Tuesday that he would impose a 50% tariff on imported copper and would soon roll out long-promised duties on semiconductors and pharmaceuticals.
A day earlier, he started sending tariff letters, where he notified 14 countries that sharply higher tariffs would take effect on August 1.
The tariff letters outlined a 25% levy on all goods from Japan and South Korea, while some nations face up to 40% tariffs.
Late Tuesday, Trump wrote on social media, “We will be releasing a minimum of 7 Countries having to do with trade, tomorrow morning, with an additional number of Countries being released in the afternoon.”
He provided no further details, while investors turned cautious in anticipation of a new wave of tariffs.
New tariffs have stoked fears of a global economic slowdown, leading investors to reduce exposure to riskier assets like cryptocurrencies.
Looking ahead, investors are focused on “Crypto Week” starting July 14, when U.S. lawmakers in Washington are expected to push forward at least three major bills aimed at regulating digital assets.
Trump Media files for another crypto ETF
Trump Media & Technology Group Corp (NASDAQ:DJT) filed with the U.S. Securities and Exchange Commission on Tuesday seeking approval to launch a new "Crypto Blue Chip ETF" later this year.
The proposed product would hold a mix of major digital assets, including Bitcoin, Ethereum, Solana, and Ripple, allowing mainstream investors to access crypto without owning tokens directly.
Approval would mark a notable expansion of Trump-linked ventures into cryptocurrency investing.
The news comes after Trump Media last month filed for two ETFs.
Crypto price today: most altcoins gain, Polygon jumps 7%
Most altcoins gained on Wednesday, tracking modest gains in the biggest cryptocurrency.
World no.2 crypto Ethereum rose 2.7% to $2,666.
World no. 3 crypto XRP jumped 3.5% to $2.37.
Solana rose 1.3%, and Cardano climbed 4.8%, while Polygon around 7%.
Among meme tokens, Dogecoin added 1.8%, while $TRUMP rose 3%.
(Ayushman Ojha contributed to this report.)