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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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- Oleg Ogienko, the public face of ruble-denominated stablecoin issuer A7A5, insists the firm complies fully with Kyrgyz regulations and international anti-money-laundering standards despite extensive U.S. sanctions on its affiliates.
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