Trump Tariffs, GDP Rattle Markets, ETFs Bleed: Crypto Daybook Americas

Market Overview - The CoinDesk 20 Index has dropped by 5%, with major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) falling nearly 2% [1] - Significant losses were observed in major altcoins such as XRP, BNB, and SOL, while ASTR, the native token of Aster DEX, fell by 4% [2] - A few coins, including MNT, CRO, KAS, OKB, and XMR, managed to gain around 1% [2] Market Dynamics - The downturn in the crypto market coincides with a stronger U.S. dollar, influenced by recent GDP and jobless claims data [2] - Bitcoin ETFs experienced outflows of $258 million, while Ethereum ETFs saw $251 million in outflows, marking four consecutive days of outflows for ETH funds [3] - Whales have offloaded 147,000 BTC since August 21, the highest sell-off since the beginning of the bull cycle in early 2023 [3] Regulatory and Economic Factors - President Trump's recent tariff announcements have increased market uncertainty, with sentiments fluctuating between rising inflation and slowing growth [4] - The core personal consumption expenditure (PCE) report is expected to show a 2.9% year-over-year rise for August, which could impact the dollar's strength and the crypto market [5] - Regulatory concerns are growing regarding unusual trading volumes and stock price volatility in over 200 companies linked to crypto treasury strategies, which could lead to market sell-offs [6] Geopolitical Developments - Geopolitical tensions are rising, particularly with reports of Russia's aerial incursions in Europe, contributing to market volatility [7]