Trade policy escalation: US administration signals potential 10% tariffs on European imports amid geopolitical tensions. The move could reshape global capital flows and risk appetite for alternative assets. Historically, trade uncertainties trigger capital reallocation—some flowing into crypto markets as a hedge against currency and economic policy volatility. European markets already pricing in tariff risks, which typically increases demand for uncorrelated assets. Watch how traditional finance responds; crypto often benefits when macro uncertainty rises and investors seek diversification beyond traditional equities and bonds.