Bitcoin (BTC) is holding steady above $84K as markets in East Asia open for the week, with major Chinese stock indices showing positive movement. The cryptocurrency market, however, is reacting cautiously to mixed signals coming from the White House regarding tariffs on technology products, particularly semiconductors.

Over the weekend, Commerce Secretary Howard Lutnick clarified that the exemption for products like smartphones, computers, and semiconductors from tariffs is a temporary decision. This was later confirmed by President Trump, who stated that the full tariff rate would be announced in the coming week, though he also indicated there would be “flexibility” around the issue.

“Bitcoin saw a noticeable rebound when key consumer electronics were temporarily exempted from the 125% tariffs on China,” explained BTSE COO Jeff Mei to CoinDesk. “Despite Trump’s comments suggesting that these products would be reassigned to a different category of tariffs instead of remaining entirely exempt, markets held onto their gains, spurred by speculation that business leaders may have successfully lobbied for some tariff reductions.”

Mei also pointed out, “It will take time to shift global supply chains away from China, especially in low-margin sectors. These types of manufacturing will likely move to other Asian countries, but we still expect volatility and some market turbulence in the near term.”

In addition to the U.S. tariff moves, China has retaliated by imposing its own 34% tariff on U.S.-origin semiconductors. However, because China considers Taiwan part of its territory and U.S. chip companies such as AMD and Nvidia rely on Taiwan’s TSMC for production, these companies are effectively exempt from the new Chinese tariffs.

Chinese analysts acknowledge that the semiconductor tariffs will likely create short-term disruptions. However, many view the situation as an opportunity to fast-track domestic semiconductor innovation, localization, and the restructuring of supply chains—ultimately benefiting China’s industry in the long run.

In Taiwan, there are reports that TSMC is accelerating the construction of a new semiconductor facility in Arizona to ensure a steady supply of U.S.-made chips, as the uncertainty around global trade continues to cloud the sector.

Meanwhile, equity markets in China are waiting for more clarity on the tariff issue before making significant moves. The Shanghai SSE Composite Index is up by 0.8%, Shenzhen’s SZSE index has gained 0.9%, and Hong Kong’s Hang Seng Index has risen by 2.4%.

In the cryptocurrency space, Hong Kong’s Bosera HashKey Ether Exchange-Traded Fund (ETF) has received approval to offer staking services. This follows updated guidance from the Securities and Futures Commission, which has greenlit staking in the region.

However, despite the regulatory progress in Hong Kong, ether ETFs have struggled in the broader market. Bloomberg ETF analyst Eric Balchunas pointed out that the most successful ETFs have been those betting against ether. Over the past year, ether has dropped 47%, according to CoinDesk data, while the CoinDesk 20 index has risen 14% over the same period.