Uncertainty is Dominating Global Trade and Crypto Market is Feeling the Heat

• Global trade sees a rise in uncertainty.
• The crypto market has recorded an FGI of 11 points.
• Spot Bitcoin and Ethereum ETFs recorded outflows on February 23, 2026.

The US Supreme Court striking down tariffs imposed by President Donald Trump has brought many sentiments, uncertainty is one of them, especially for global trade. Experts believe that there is still no clarity about what will happen in the future across the global trade spectrum. Meanwhile, the crypto market is on the edge, feeling the heat in the form of a lower FGI and higher volatility.

Uncertainty Across the Trading Sphere

The Federal Reserve has reportedly expressed concerns about elevated inflation, but that’s only one part of it. Ray Attrill, Head of Currency Strategy at National Australia Bank, appeared on a NAB podcast and stated that they were back in a very uncertain environment with little to no idea about the future trade landscape.

Donald Trump has, for now, raised the tariff from 10% to 15%. His administration is looking into national security tariffs on select industries. This includes plastic piping, industrial chemicals, and large-scale batteries, among many others.

Uncertainty looms over countries irrespective of a deal they reached and/or signed with the US earlier. For instance, the European Parliament has postponed its voting session on the trade deal with the US.

Bears in Crypto Market

Bearish sentiment is more than evident in the crypto market, with the FGI slipping down to 11 points. There is also a notable drop of 3.37% in the collective market cap, which now stands at $2.18 trillion. Almost $375.45 million worth of liquidations have been executed in a single day to this moment.

A lot of attention is on BTC, the flagship cryptocurrency. It has shed 3.95% over the last 24 hours and 7.37% in the last 7 days. Bitcoin tokens are being traded at $63,187.61 when the article is being drafted. Even ETH has lost 7.51% of its value in the last 7 days to drop to $1,828.01.

ETF Flows

Uncertainty has possibly also spread across both ETFs – Spot Bitcoin ETF and Spot Ethereum ETF. The former noted an outward movement of $203.8 million on February 23, 2026 while the latter recorded an outflow of $49.5 million on the same day.

It is a potential streak of outflows for BTC ETF and an extension for Ether ETF. Simply put, global trade and every possible aspect of the crypto market are watching what happens next as uncertainty persists.

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