Markets on Hold as Tariff Twists Keep Investors Guessing

Another quiet day across the markets as investors remain in a holding pattern, waiting for further sporadic tariff announcements from the President. With no set schedule and unpredictable timing, these updates keep investors on their toes, leaving markets in wait-and-see mode as uncertainty lingers.

There will be no delays or revisions to the tariffs imposed on 14 countries earlier this week, Trump has confirmed they will go live on August 1st.

Overnight, a fresh 50% tariff on copper imports was announced, which saw Copper rally nearly 20% on the announcement, alongside threats of further sector-specific tariffs. Notably, Trump threatened tariffs of upto 200% on pharmaceuticals, although this would take 12 to 18 months to implement to give the industry time to adjust. Over the next three weeks, we can expect more of these unexpected updates, which should bring clarity on which countries face additional tariffs come August 1st.

Trump Media & Technology Group (DJT) Dives Deeper into Crypto

Trump continues to push into crypto through his Media company, Trump Media & Technology Group (DJT). A few months ago, they announced plans to acquire $2.5 billion worth of Bitcoin, and now they’ve filed for a “Crypto Blue Chip ETF” with the SEC. The proposed ETF would hold 70% Bitcoin, 15% Ethereum, 8% Solana, 5% Cronos, and 2% Ripple.

Jack Dorsey Unveils Decentralised Messaging App ‘Bitchat’

In other crypto news, former X (Twitter) CEO Jack Dorsey has just launched a new decentralised messaging app called ‘Bitchat’. It offers end-to-end encrypted messaging and, as Dorsey describes, “provides ephemeral, encrypted communication without relying on internet infrastructure, making it resilient to network outages and censorship.” A standout feature Bitcoin users are testing is the ability to send Bitcoin without internet access via Bluetooth or mesh networks. The app stores transactions until it reaches an online device that can broadcast to the Bitcoin network, making it ideal for blackouts, emergencies, or off-grid use. So yes, you can transact offline, but the transaction still needs an internet-connected node to complete.

Stormrake Spotlight: Hyperliquid (HYPE) ($39.10)

HYPE remains rangebound, trading between its tight support and resistance. Yesterday saw HYPE nearly drop 5% intraday before reversing during the US session and closing green. Bulls continue to defend the 21EMA and support, while bears keep rejecting consistent closes in the resistance zone.

BTC/USD Key Levels and Price Action:

Bitcoin looks to be approaching the end of its consolidation phase. Over the past week, we’ve seen constant momentum shifts, with neither bulls nor bears taking control. The structure remains neutral, with higher lows and lower highs forming a symmetrical triangle. Now, BTC is potentially breaking out of this pattern, but the real test is the key resistance level at $109.5K, which has repeatedly capped further gains.

BTC Total ETF Flows for 8 Jul: + 8.5 million

*All prices are denominated in USD unless stated otherwise*

Written by Alexandar Artis

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