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Bitcoin Bounces Back To $81k As Trump Eases Global Tariffs
President Donald Trump’s surprise move to ease global tariffs has sent shockwaves through the cryptocurrency market, as Bitcoin (BTC) price surged from $77,000 to a staggering $81,900 in a matter of hours.
As part of this unexpected development, Trump announced that he had authorized “substantially lowered” reciprocal tariffs across the world, prompting an unprecedented rally in both stocks and cryptocurrencies. According to sources close to the White House, over 75 countries have reached out to negotiate with the United States government following Trump’s initial move to impose global tariffs last week.
The sudden change in tone from the US administration has been met with widespread approval on social media, as traders and investors alike capitalize on the unexpected turn of events. In a rare moment of bipartisanship, both Republican and Democratic lawmakers have issued statements praising the decision, highlighting its potential to boost economic growth and stabilize global markets.
As the dust settles on this extraordinary event, it is becoming increasingly clear that Bitcoin is reaping the benefits of Trump’s new stance. The cryptocurrency has broken through critical resistance levels, with many market analysts now calling for a sustained uptrend in the days and weeks ahead.
Meanwhile, China’s response to the move has been met with skepticism by traders, as the country has refused to budge on its tariffs, opting instead to increase them to 125%. In an unusual display of defiance, Trump publicly lambasted Beijing, stating that their “lack of respect” for global markets had necessitated this move.
Despite the ongoing tensions with China, investors appear undeterred, with many now eyeing a potential run-up in Bitcoin and other cryptocurrencies. As such, we expect to see a significant amount of capital flowing into these asset classes in the coming days.
In related news, it has been reported that over $169 million in shorts have been liquidated in the past hour alone, further fuelling the upward momentum seen in Bitcoin’s price.
Source: https://cryptopotato.com/bitcoin-bounces-back-to-81k-as-trump-eases-global-tariffs/
