Bloomberg Daybreak: Asia Edition Bitcoin Hits Record High, Trump Unveils New Tariff Rates, More
5 snips
Jul 10, 2025 Matthew Tuttle, CEO and CIO at Tuttle Capital Management, and Deborah Elms, Head of Trade Policy at the Hinrich Foundation, dive into the surge of Bitcoin, which just hit over $112,000 amidst a broader market rally. They discuss the implications of President Trump’s surprising 50% tariffs on Brazilian goods, which rattled markets and strained international relations. Tuttle connects the Bitcoin boom to speculative momentum and institutional interest, while Elms highlights the unpredictable landscape of U.S. tariff policies and their economic consequences.
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Bitcoin's Rally Reflects Market Optimism
- Bitcoin's rally reflects increased risk appetite and a positive market mood despite geopolitical tensions.
- The market is optimistic short-term but may face profit-taking soon.
Fed Chair and Rate Policy Outlook
- A new Fed chair likely will lower interest rates immediately to avoid political pressure.
- The Fed controls short-term rates but long-term rates remain a wild card, influenced by bond markets.
Crypto Becomes Must-Have Investment
- Crypto is now considered essential in investment portfolios amid supportive U.S. administration stance.
- New regulatory clarity and pro-crypto policies boost institutional and retail interest in cryptocurrencies.