The post Bitcoin (BTC) back to $98,000 as Trump pauses Canada and Mexico tariffs appeared on BitcoinEthereumNews.com.

The huge losses sustained by Bitcoin over the weekend and into Monday have largely been reversed. President Trump’s decision to impose swingeing 25% trade tariffs on Canada and Mexico have been put on hold for 30 days. Bitcoin accumulation resumes.  Time to talk for Canada and Mexico The Trump grenade, thrown into the market in the form of 25% trade tariffs on the United States nearest neighbours, has been defused for now. Both Canada and Mexico have agreed to bolster their border enforcement efforts in order to curtail illegal immigration, drug smuggling, and money laundering activities. Both countries have a period of 30 days in which to broker deals that will head off tariffs that, if imposed, would severely impact their economies.  It’s starting to look like the Trump playbook of bargaining from a position of strength may bear fruit. The threat of such a tough sanction as a background to talks, is likely to have a wonderful effect in concentrating the minds of those doing the talking. Tariffs on China remain Meanwhile, the 10% tariffs on China remain as is, and come into effect on Tuesday. China has responded that it will discuss the unfair imposition of these tariffs with the World Trade Organisation, and will be imposing its own countermeasures. Retail traders are flushed from the market After a great recovery from the tariffs dump, the $BTC price is correcting again. This is all perfectly normal, unless of course you take into consideration the crazy volatility that has beset the crypto market over the last several weeks. Spikes of between 5 to 10% in a day, and sometimes higher, are having the effect of washing many retail investors out of the market, probably never to return. One big mistake that many are making is that they are treating…

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Filed under: News - @ February 6, 2025 4:21 am