Key Points:
- Bitcoin briefly surged to $100K after the U.S. delayed tariffs on Mexico and Canada but quickly fell back to $98K as China imposed new tariffs in retaliation.
- China launched an antitrust investigation into Google, signalling a broader economic war that could hurt U.S. tech giants and risk-on assets like Bitcoin.
- Trump’s executive order to create a U.S. sovereign wealth fund sparked speculation on Bitcoin demand, but details remain unclear as market uncertainty grows.
The crypto market remains highly volatile, with Bitcoin briefly touching $100,000 before tumbling back to $98,000 following China tariffs.
Bitcoin’s Volatile Surge and Sudden Drop
CP Capital highlighted this ongoing roller coaster in its latest update, noting that trade tensions and geopolitical shifts keep markets on edge. The initial BTC rally came after the U.S. announced a one-month delay in imposing tariffs on Mexico and Canada, hinting at possible trade mediation. However, the optimism was short-lived as China tariffs took effect, erasing gains and fueling renewed uncertainty.
China has launched an antitrust investigation into Google, a move seen as a direct escalation in its economic standoff with the U.S. Analysts warn that if China tariffs continue to pressure American companies, earnings for these firms could suffer, further weighing on risk assets like Bitcoin.
Read more: Trump Tariffs on Mexico Halted, Rapidly Shifting Trade War Landscape
Trump’s Wealth Fund Sparks Speculation
Former President Donald Trump’s executive order directing officials to establish a U.S. sovereign wealth fund sparked mixed reactions. While some speculate this could lead to increased Bitcoin adoption, details remain unclear, particularly regarding its funding sources and long-term implications.
Market uncertainty is also reflected in options trading, with positioning currently balanced between puts and calls, signalling indecision among investors. As China tariffs and geopolitical developments unfold, traders remain cautious about Bitcoin’s near-term trajectory.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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