Tariffs Fail to Impact Bitcoin, Memecoin PNUT Surges Following Musk's Remarks
A look at recent trends in cryptocurrency amidst tariff threats and key updates from the markets.
Overview
The Crypto Daybook Americas presents an insightful overview of the cryptocurrency landscape as of July 9, 2025. The crypto market appears resilient despite looming tariff threats from President Trump, whose recent communications have not swayed Bitcoin prices significantly.
Key Price Movements
- Bitcoin (BTC): approximately $108,600
- Ethereum (ETH): $2,608.51
The broader CoinDesk 20 index saw a 1.8% uptick amidst the tariff discussions, indicating a relative stability in crypto assets despite geopolitical tensions.
Tariff Threats
President Trump recently notified 14 nations regarding the imposition of tariffs effective August 1 unless trade concessions are made. Traditional markets showed muted reactions to these tariff threats, with U.S. equities remaining flat.
Market Sentiment
Despite the tariff announcements, the cryptocurrency sector demonstrated resilience with inflows nearing $1 billion over the week, particularly into Bitcoin and other major assets like Ether.
Noteworthy Developments
The emerging memecoin PNUT surged by over 10% following a comment by Elon Musk regarding a viral squirrel named Peanut, showcasing the continuing impact of cultural references in cryptocurrency trading. This spike in trading volume points to the growing connection between social media narratives and crypto market trends.
Conclusion
As the market braces for potential tariff implementations, staying informed and understanding the implications of these developments will be vital for investors and stakeholders in the cryptocurrency ecosystem.
