Sheng Bao: Bitcoin and Ethereum continue to weaken, dragged down by trade tariff uncertainties and geopolitical concerns.

In a report, analysts at Shengbao Bank stated that both Bitcoin and Ether continued to weaken due to decreased risk appetite caused by uncertainty surrounding US trade policies and geopolitical concerns. "Digital assets are trading weak, in line with the overall risk tone." The market is concerned that the US may take military action against Iran, while at the same time, following the US Supreme Court overturning most of its tariffs implemented last year, US President Trump announced a new 15% global tariff. These analysts stated that cryptocurrencies continue to reflect global liquidity conditions, and if macroeconomic uncertainties persist, cryptocurrencies may continue to remain sensitive to broader risk appetite. Data from the London Stock Exchange Group shows that Bitcoin fell by 1.9% to $66,299, while Ether fell by 1.6% to $11,919.