Bitcoin is less than $ 100K after imposing import tariffs after Donald Trump.
Bitcoin (BTC) fell to less than $ 100 for the first time in six days after the US President Donald Trump signed an administrative order to impose import tariffs on products in China, Canada and Mexico.
The imposed tariff has already caused retaliation in three countries, and the crypto industry is divided into how it affects a wider market.
According to the White House’s February 1 statement, “Trump has a 25%additional tariff on imports between Canada and Mexico and an additional 10%of China’s imports. Canadian energy resources will lower 10%tariffs. ”
source: Donald J. Trump
The statement said, “Trump is taking bold measures to prevent Mexico, Canada and China.
Duty increases the inflation, increasing interest rates, which usually allow investors to move to traditional assets such as dangerous assets such as encryption and bonds and duration deposits.
Three countries retaliated quickly
Shortly after Trump’s announcement, Canada’s Prime Minister Justin Trudeau announced at a press conference that Canada would impose a 25%tariff on US $ 115.5 billion US products.
China’s Commerce Department complained about the World Trade Organization (WTO) and said, “I receive the measures.”
Mexico President Claudia Sheinbaum told Economic Ministers in a long X post that he ordered plan B, including tariffs and non -observation measures that defend Mexico’s interests.
Following retaliation, Bitcoin slipped below the price of $ 100,000 for the first time since January 27 and traded at $ 99,540 at the time of publication.
Bitcoin is trading at $ 99,540 at the time of publication. source: Coinmarketcap
According to CoingLass data, it led to publishing for four hours from a long position of about $ 22.7 million.
The encryption industry is divided into how tariffs affect the market.
The encryption industry is divided into how much tariffs will affect the wider encryption market.
Crypto Capital Venture Founder Dan Gambardello does not buy a story.
Gambardello said: “I can’t believe Trump’s tariffs and his opinion that his Memecoins is over.”
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Gambardello said, “BLACKROCK continues to accumulate ETH and BTC, and since encryption is currently integrated, the sleeves are enthusiastic.
Jeff Park, head of Alpha Strategies at Bitwise Invest, said, “How amazing the continuous tariff war is for Bitcoin in the long run.”
Adam Cochran, a Cinnaeamhain ventures partner, said, “Bitcoin is not enough to be separated from the world market like Triple-Levered Tech these days.”
COCHRAN said, “Economic pressure of this scale means the pain around you, and we will be fine to blame it.
magazine: Next XRP ~ $ 4? SBF’s parents find Trump forgiveness, etc.: HODLER ‘S Digest, January 26 -February 1
