Bitcoin (BTC-USD) is set to fall by 1.5% as compared to last week, as President Donald Trump's proposed tariffs on Canada and Mexico and 10% tariff on China will indeed go into effect on Saturday. The world's oldest cryptocurrency retreated to multi-day lows on Monday,
To review, President Trump on Thursday promised to impose 25% tariffs on Mexico and Canada beginning Saturday Feb. 1. Having rallied over $106,000 prior to that news, bitcoin (BTC) quickly reversed 2% lower to around the $104,000 level. U.S. stocks gave up a chunk of earlier gains, though still finished the session in the green.
Trump, Crypto and Hedge Fund
"God candle," Samson Mow, a bitcoin developer who leads the Jan3 bitcoin wallet company, posted to X and referring to a sudden spike in the bitcoin price that creates a "candle" on a trading chart as the bitcoin price suddenly soared, hitting $109,400 on the Coinbase bitcoin and crypto exchange.
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