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RE: LeoThread 2025-02-01 10:54

in LeoFinance8 months ago (edited)

Trump Tariff Promise Snuffs Out Bitcoin Rally for Second Consecutive Day

Looks like Trump’s tariff drama is shaking up Bitcoin again. For the second day in a row, BTC shot up past $106K, only to tumble after the White House doubled down on the 25% tariffs. #Bitcoin #Crypto

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On Thursday, BTC was soaring until Trump promised tariffs on Mexico & Canada. Prices dropped 2%, stocks wobbled, but still ended green. Then came Friday’s Reuters report hinting at a delay…

That optimism didn’t last. The White House quickly shut it down, calling the report false. Trump’s press secretary confirmed the tariffs (including 10% on China) go live tomorrow. BTC tanked again.

Bitcoin, which almost hit $109K earlier, plunged below $103K, down 2.3% in 24 hours. Meanwhile, the CoinDesk 20 Index slipped 1.3%, with ETH managing a slight 1.2% gain.

Traditional stocks stayed positive but lost momentum. Bitcoin, though? It’s clearly not a fan of trade war threats. Will it recover, or are we in for more turbulence?