Crypto News Catchup: Crypto Markets Navigate Tariffs, ETFs, and Global Adoption

New tariffs announced by President Donald Trump briefly rattled crypto markets, with Bitcoin dipping before rebounding and investors remaining on edge. Meanwhile, states like Maryland and Kentucky are moving toward building Bitcoin reserves, reflecting a wider trend of public-sector interest in crypto. Technically, Bitcoin is currently trading in a two-month range, below the 50-period EMA, and momentum indicators suggest further downside unless bulls reclaim control. Beyond Bitcoin, the push for altcoin-focused ETFs—especially for Dogecoin, Solana, and XRP—continues in the U.S., with proposals awaiting regulatory review. In Asia, South Korea’s stock exchange chief is also advocating for the rapid introduction of crypto ETFs to maintain the nation’s financial competitiveness.

Crypto markets briefly stumbled when President Donald Trump announced new tariffs on steel and aluminum, triggering fresh trade war concerns. Bitcoin dipped from $97,000 to $94,000, then quickly rebounded above $97,000, while Ether followed a similar pattern. Despite ongoing tariff threats—including potential levies on the EU—investors have shown resilience, even as the Crypto Fear & Greed Index remains in fear territory, reflecting persistent caution in the market.

Maryland and Kentucky have introduced bills to create or allow state-level investments in Bitcoin and other digital assets, joining a growing trend among U.S. states. In Maryland, a proposed “Strategic Bitcoin Reserve Act” specifically mentions Bitcoin, directing funds from certain gambling violations toward the cryptocurrency. Meanwhile, Kentucky’s House Bill 376 refers to digital assets with at least a $750 billion market cap—effectively limiting investments to Bitcoin. These moves reflect a bipartisan push to hold crypto in public reserves and follow President Donald Trump’s campaign promise to establish a federal Bitcoin stockpile. North Dakota remains the only state so far to reject a similar bill.

Bitcoin has been trading within a range between an upper boundary of $109,899 and a lower boundary of $88,919 for nearly two months. A decisive break below the lower boundary would indicate the end of the current uptrend and the beginning of a new downward trend. Key technical indicators reinforce the negative sentiment, as prices are currently below the 50-period Exponential Moving Average (EMA), suggesting continued selling pressure in the near term. However, the 20-period EMA has not yet crossed below the 50-period EMA.
On the other hand, the Relative Strength Index (RSI) and the Momentum Oscillator remain below the neutral marks of 50 and 100, respectively. If bearish momentum continues, the next key support levels to watch are $88,919, $85,304, and $75,953. Conversely, if there is a revival of bullish pressure, key resistance levels to monitor are projected at $108,989, $113,984, and $120,245.

Several fund issuers are pushing to expand crypto ETFs beyond Bitcoin and Ethereum into altcoins such as Dogecoin, Solana, and XRP. Proposals include both spot and futures-based products—some featuring leveraged bets—and hinge on pending decisions from the SEC, which typically takes months to review new filings. Solana’s regulatory status is under extra scrutiny, while funds tracking meme coins like Dogecoin and Trump’s coin could debut as soon as April if approved under an expedited process. Overall, analysts predict these ETFs could attract billions in inflows if regulators grant the green light, reflecting growing demand for diverse crypto investments.

South Korea’s Exchange chairman, is urging the swift approval of cryptocurrency ETFs to modernize the financial system and keep the country competitive globally. Citing South Korea’s status as a top crypto trading market, Jung believes such ETFs would add market depth and provide regulated exposure to digital assets. While other countries like the U.S. and Canada have already embraced crypto ETFs, South Korea has yet to follow suit, raising concerns about missed opportunities for financial innovation.

From U.S. tariffs stirring Bitcoin volatility to growing state-level interest in holding crypto reserves, the market remains dynamic. Technical indicators suggest caution for Bitcoin’s current range, though altcoin ETF proposals—alongside South Korea’s call for crypto ETFs—point to expanding opportunities for digital asset investment. All told, crypto’s resilience and the push for broader adoption underscore its evolving role in global finance.