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Bitcoin Rally to Record High Knee-Capped as Trump Tariff Threat Hits Risk Assets
The president said he intends to impose 25% tariffs on Mexico and Canada on February 1.
Jan 30, 2025, 9:18 p.m.
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What to know:
After an ugly start to the week that saw its price fall below $98,000, bitcoin (BTC) had managed its way back above $106,000 and within view of its record high of $109,000
The rally reversed late in U.S. trading on Thursday after President Trump said he still intends to impose 25% tariffs on Mexico and Canada beginning Feb. 1, citing immigration, drugs and subsidies.
The news sent risk assets lower, with stocks giving up a chunk of earlier gains and bitcoin slipping back to $104,800.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold
Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash.
What to know:
- During recent geopolitical tensions, Bitcoin lost 6.6% of its value, while gold rose 8.6%, demonstrating bitcoin's vulnerability in times of market stress.
- Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash, contrary to its reputation as a stable digital asset.
- Gold remains the preferred hedge for short-term risks, while bitcoin is better suited for long-term monetary and geopolitical uncertainties that unfold over years.
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