As the United States leaves room for reciprocal tariff negotiations with neighboring countries, the uncertainty in the market is increasing, leading to a decline in major virtual assets.
According to CoinMarketCap, a global cryptocurrency market tracking site, as of 8:07 a.m. on the 8th, Bitcoin is trading at $108,076, down 0.83% from the previous day. During the same period, Ethereum is being traded at $2,540, down 1.26%.
The decline in virtual assets during the morning is believed to be due to the United States announcing the reciprocal tariff rates that will apply to neighboring countries such as Korea, leaving room for negotiation until the effective date in early next month. U.S. President Donald Trump postponed the effective date of the reciprocal tariff, initially announced for July 9, to August 1, citing the need to address trade deficits.
It is observed that this is because negotiations have not progressed as quickly as initially announced, which stated that all trade agreements would be concluded by the 9th. Rather than rushing the application of reciprocal tariffs, which could burden the U.S. economy, it appears they are seeking to secure more time for negotiations.