On September 2, President Trump claimed India was willing to accept “zero tariffs,” but added it was “too late.” The U.S. recently imposed 50% tariffs on multiple Indian goods, hitting textiles and jewelry while granting exemptions for electronics and pharmaceuticals. At the same time, PM Modi reiterated India’s “special relationship” with Russia and its ongoing energy cooperation. The developments put U.S.–India negotiations back into a tug-of-war, heightening uncertainty around supply chains and oil prices, and weighing on global risk sentiment.
In crypto, BTC remains range-bound between $107K–$110K. Heatmaps show heavy liquidation clusters at $113.6K, forming key resistance, while supports sit at $107.2K and $105.1K.
Bitunix Analyst’s View: This episode appears more like negotiation pressure and domestic signaling than a quick resolution. Investors should watch the IEEPA litigation process, oil and USD trends, and narratives around de-dollarization and tariffs that could shift capital flows. From a technical standpoint, whether BTC can hold the $109K midpoint and test the $111K–$114K liquidity zone, or retest $107K/$105K support, will serve as key indicators of risk sentiment.
