Trump’s Tariffs and GDP Disrupt Markets, ETFs Suffer: Crypto Daybook Americas

September 26, 2025

Market Overview: Crypto and Economic Insights

Recent data shows that the Coindesk 20 Index has dropped by about 5%, which isn’t great news for crypto enthusiasts. Over the last 24 hours, major cryptocurrencies like Bitcoin (BTC) are hovering around $109,418.12, while Ethereum (ETH) stands at approximately $3,975.34, just under a 2% decline.

Looking at altcoins, well, it’s been a tough run for them, too. Notable players like XRP, BNB, and SOL have faced even steeper losses. Interestingly, AST, which is linked to Aster Dex, has seen its trading volume fluctuate recently. A few other coins—like MNT, CRO, KAS, OKB, and XMR—have managed modest gains of around 1%.

This downturn seems tied to a stronger dollar, which rose after the release of U.S. GDP and jobless claims earlier this week, creating a somewhat negative sentiment in the markets.

A BRN analyst pointed out that the behavior of exchange-traded funds (ETFs) has shifted dramatically. Rather than absorbing crypto assets, they recorded significant outflows—$258 million from Bitcoin ETF and $251 million from Ethereum ETF, marking four consecutive days of declining values for ETH.

Crypto whales, too, have cut back, selling 147,000 BTC since August 21, with much of that occurring during the current bull cycle that kicked off in early 2023.

Adding to the mix of concerns, the recent tariff announcements from former President Donald Trump have introduced an element of uncertainty—particularly with tariffs on trucks, furniture, and pharmaceuticals set to hit starting October 1.

As we look ahead, the Fed’s favored measure for inflation, the core consumer spending report, is on the horizon. Analysts expect a year-on-year rise of about 2.9% for August, which could slightly influence market dynamics. A lighter-than-expected figure might soften surges in the dollar, providing some cushion for Bitcoin and the broader crypto market.

It’s also wise to stay alert regarding evolving regulations on digital assets. A report mentioned U.S. regulators are scrutinizing trading volumes and prices tied to over 200 companies involved in crypto. So, these regulatory pressures might hasten selling across the market.

Geopolitical factors are another point of caution, particularly with reports of a Russian air incursion in Europe influencing market stability. Oil prices, for instance, have surged by 4% this week, climbing to their highest since June. It’s certainly a time to stay vigilant.

What’s Next

Monitor Crypto and Macro Developments
Upcoming Data Releases:
- September 26, 8:30 AM: Canada July GDP Month-over-Month Estimate: 0.1%
- September 26, 8:30 AM: US August Headline PCE Price Index Year-on-Year Estimate: 2.7%, Month-over-Month Estimate: 0.3%; Core Year-on-Year Estimate: 2.9%, Core Month-over-Month Estimate: 0.2%
- September 26, 10 AM: Final Michigan Consumer Sentiment for September Estimate: 55.4
- September 26, 1 PM: Speech by Vice-chairman overseeing monetary policy decision-making
Revenue Insights

Token Events

Governance votes and discussions
Unlock events
- September 28: JUP to unlock 1.75% of the circulating supply, valued at $28.89 million.
Token launches
- September 26: HANA Network launching on Binance Alpha, Kucoin, MEXC, and BINGX.
- September 26: Mira also being listed on Binance Alpha, Kucoin, etc.

Market Movements

Bitcoin is up 0.4% from Thursday at $109,669.81 (24-hour change: -2.17%)
Ethereum increased by 0.74% to $3,916.83 (24-hour change: -3.12%)
Coindesk 20 rose 0.18% to 3,820.89 (24-hour change: -3.25%)

Bitcoin Statistics

BTC dominance: 59.06% (-0.03%)
Ether to Bitcoin Ratio: 0.03573 (0.52%)
Hash rate (7-day moving average): 1,083 EH/s
Total fees: 3.27 BTC worth about $364,469
CME Futures Open Interest: 134,940 BTC

Technical Insights

XRP’s price recently plummeted towards a crucial level between $2.65 and $2.70, reflecting a notable reduction in buying demand that could lead to further drops.