Tariffs Take a Bite Out of Crypto

In this video-based bitcoin price outlook for January 2025, Sean Farrell discusses how fresh U.S. Services PMI data and escalating tariff headlines are feeding into moves across crypto markets, with a focus on Bitcoin (BTC). He opens by highlighting a new decentralized finance (DeFi) milestone: decentralized exchange (DEX) volumes reaching a record share versus centralized exchanges, and what this shift may signal about on-chain trading activity and market structure.

Farrell then walks through the day’s macro backdrop, including the hotter Services PMI “prices paid” component, commentary from the survey on tariffs and front‑loaded business activity, and the latest Job Openings and Labor Turnover Survey (JOLTS) details such as quits behavior. He connects these data points to dollar strength, U.S. Treasury yield moves, and changes in the Coinbase premium for Bitcoin, and contrasts crypto’s action with gold’s response. The 6‑minute video ties these developments back to Fundstrat’s ongoing “But the Tariff News” theme and outlines the macro questions crypto investors may be considering heading into the upcoming jobs report and broader 2025 crypto outlook. Full charts, context, and Farrell’s view are available to subscribers.

In this video-based bitcoin price outlook for January 2025, Sean Farrell discusses how fresh U.S. Services PMI data and escalating tariff headlines are feeding into moves across crypto markets, with a focus on Bitcoin (BTC). He opens by highlighting a new decentralized finance (DeFi) milestone: decentralized exchange (DEX) volumes reaching a record share versus centralized exchanges, and what this shift may signal about on-chain trading activity and market structure.

Farrell then walks through the day’s macro backdrop, including the hotter Services PMI “prices paid” component, commentary from the survey on tariffs and front‑loaded business activity, and the latest Job Openings and Labor Turnover Survey (JOLTS) details such as quits behavior. He connects these data points to dollar strength, U.S. Treasury yield moves, and changes in the Coinbase premium for Bitcoin, and contrasts crypto’s action with gold’s response. The 6‑minute video ties these developments back to Fundstrat’s ongoing “But the Tariff News” theme and outlines the macro questions crypto investors may be considering heading into the upcoming jobs report and broader 2025 crypto outlook. Full charts, context, and Farrell’s view are available to subscribers.

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