Crypto Boom Amidst Tariff Uncertainty and Market Jitters

Asian share markets faced uncertainty due to impending tariffs, while bitcoin soared as it was named in a new U.S. cryptocurrency reserve. Major cryptocurrencies saw significant gains, and geopolitical tensions mounted ahead of new tariffs on Canada, Mexico, and China. Economic indicators hint at a possible U.S. recession.

Asian stock markets remained indecisive on Monday amid the looming threat of new tariffs. Meanwhile, bitcoin surged following its inclusion in a potential U.S. strategic cryptocurrency reserve, leading a rally in digital currencies.

The announcement by President Donald Trump listed five cryptocurrencies, stimulating bitcoin's value by over 11% and ether's by 14%. The geopolitical tension increased further as the U.S. prepared to implement tariffs on Canada, Mexico, and China, with potential economic repercussions.

As worries about U.S. economic health intensified, expectations grew for rate cuts by the Federal Reserve to temper recession fears. Global markets also focused on European efforts for a peace plan for Ukraine amidst contributing economic anxieties.

(With inputs from agencies.)