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Market Wrap: Crypto Markets Shrug Off New Trump Tariff Threat as July Deadline Looms
U.S. President Trump said that all trade discussions with Canada were being terminated.
Jun 27, 2025, 7:18 p.m.
What to know:
- The crypto markets remained stable despite renewed tariff threats, with Bitcoin declining 0.7% to $106,700.
- Crypto stocks experienced significant losses, with Coinbase and Circle dropping 6% and 16% respectively.
- President Trump announced the termination of trade talks with Canada over its Digital Services Tax on U.S. tech firms.
The crypto markets experienced a relatively calm day on Friday in spite of a renewal of the threat of tariffs.
Bitcoin is down 0.7% in the last 24 hours, now trading for $106,700, according to CoinDesk market data.
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The orange coin’s performance was broadly in line with the CoinDesk 20’s — an index of the top 20 cryptocurrencies by market capitalization, except for stablecoins, memecoins, and exchange coins — which fell 0.7% in the same period of time. was the index’s token that experienced the biggest price change either way, and it only rose 3.3%.
Crypto stocks saw more significant moves, with Coinbase (COIN) and Circle (CRCL) losing 6% and 16% respectively. The stablecoin issuer’s stock is down 40% since it topped at almost $300 on Monday.
Bitcoin miners remained relatively flat on the day, including Core Scientific (CORZ), which rose more than 30% on Thursday off a report that AI Hyperscaler CoreWeave was looking into acquiring the company, although Hut 8 (HUT) fell 6.5%.
The mild price action contrasted with the prospect of the White House’s tariff strategy kicking into high gear again. U.S. President Donald Trump announced that his administration would be terminating all trade discussions with Canada in light of the Digital Services Tax the country aims to impose on U.S. tech firms.
“We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven-day period,” Trump posted.
The pause on reciprocal tariffs is also slated to end on July 9, but neither traditional markets nor crypto seem particularly concerned, Coinbase analysts noted in a research report.
“[Markets] have largely disregarded the potential economic risks stemming from this situation… partly because this hasn’t necessarily been reflected in the economic data,” the analysts wrote.
The complacency around tariffs will likely continue, they said, because they are unlikely to be as inflationary as previously expected.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
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- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Dogecoin pops 4% amid memecoin rally as a short-term golden cross flashes
Technical indicators suggest Dogecoin's rally is supported by strong volume, but it must maintain key support levels to continue upward momentum.
What to know:
- Dogecoin surged to $0.1516, driven by high trading volume and renewed interest in meme coins.
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