Coinbase News: Bitcoin Struggles Amid Market Uncertainty Caused by U.S. Tariffs

The cryptocurrency market, particularly Bitcoin, has faced significant turbulence recently due to various factors. Here’s an overview of how U.S. tariffs and weak demand from U.S. investors have impacted Bitcoin’s performance.

Is Bitcoin’s Bull Run Over? Tariff Fallout Causes Uncertainty

Bitcoin struggles as U.S. tariffs spark market uncertainty, causing a sharp decline in its value. Coinbase’s Spot Discount signals weak demand from U.S. investors, affecting Bitcoin’s momentum despite large buys. The cryptocurrency market lost $140 billion as Bitcoin faced a 2.05% drop after U.S. President Donald Trump announced tariffs on over 50 countries. Bitcoin has been unable to sustain its upward trajectory, partly due to lower demand for crypto assets among US investors and ETFs, even with significant buyers like Strategy’s Michael Saylor.

Illinois to Drop Staking Lawsuit Against Coinbase

Illinois intends to drop its staking lawsuit against Coinbase, joining Kentucky, Vermont, and South Carolina in backing down from litigation against the exchange. The move comes after the U.S. Securities and Exchange Commission (SEC) dropped its suit against Coinbase for violating federal securities laws related to its staking product. The spokesperson for Illinois Secretary of State did not specify when the case may be dropped.