Bitcoin's Wild Ride, Ripple's Big Move, Tariff Plunge, And More: This Week In Crypto

The past week in the world of cryptocurrency was nothing short of eventful. The market saw significant fluctuations, largely influenced by President Donald Trump’s tariff announcements. Bitcoin (CRYPTO: BTC) soared to new heights, only to tumble shortly after. Meanwhile, Ripple (CRYPTO: XRP) made headlines with a bold acquisition and a promising forecast.

Here’s a recap of the top stories.

Bitcoin Soars Amid Tariff Announcements

Bitcoin reached a staggering $82,000 this week, following a short squeeze that liquidated $75 million in bearish bets within an hour. This surge came after President Trump announced a 125% tariff on China while pausing reciprocal tariffs on 75 other countries for 90 days.

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Crypto Market Cap Drops Following Tariff Announcement

Following President Trump’s sweeping tariff announcement, the cryptocurrency market cap dropped 2.80% in 24 hours to $2.54 trillion. This came after Trump imposed a 145% duty on Chinese imports and a 10% universal tariff on most other goods.

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See Also: Bitcoin, Ethereum, XRP, Dogecoin Rally And ‘Could Be In For A Very Fun Weekend’ If One Key Level Flips

XRP To Overtake Ethereum By 2028, Predicts Standard Chartered

Standard Chartered has forecasted that XRP’s market capitalization will surpass Ethereum’s by the end of 2028. This bold prediction was made by Geoffrey Kendrick, head of digital assets research at Standard Chartered, who highlighted XRP’s growing role in cross-border payments.

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Ripple Acquires Prime Broker Hidden Road

Ripple, the blockchain firm behind XRP, has agreed to acquire prime brokerage firm Hidden Road in a deal valued at $1.25 billion. This acquisition marks Ripple’s most significant move yet to expand its offerings for institutional clients, according to CEO Brad Garlinghouse.

Read the full article here.

Bitcoin May Decouple From Stocks Amid Tariff-Fueled Recession

Bitcoin may have become increasingly correlated with stocks amid escalating trade war concerns, but one analyst predicts a deteriorating economic environment will eventually decouple the apex cryptocurrency from the risk-on sector. Michael Terpin, CEO of Transform Ventures, believes the ongoing tariff wars could trigger a recession, disrupting supply chains and causing job losses.

Read the full article here.

Read Next:

• Bitcoin Investor Turns Daily $30 Purchases Into $1 Million Portfolio In 7 Years, 10 Months And 12 Days

Photo courtesy: Shutterstock

This story was generated using Benzinga Neuro and edited by Ananya Gairola