US presidential election Donald Trump and bitcoin.
CHENEY ORR | Dado Ruvic | Reuters
Bitcoin trimmed the previous loss and returned to $ 100,000 after the United States agreed to pause the product tariff from Mexico for one month.
Price of Bitcoin According to Coin Metrics, it was less than 1 % for $ 98,461.83. Previously, President Donald Trump attacked Mexico, Canada, and China, hit Mexico, Canada, and China for long -term imported tariffs on weekends, and decreased to $ 91,212.63 in risk off. It was traded for more than $ 102,000 on Friday.
Stock Coin base and MicroStrategy The minimum session was reduced by 0.5 % to 1 %, respectively.
“Bitcoin is superior to other areas in the market, and reinforces its position as the safest betting in cipher,” said Ben Kurland, CEO of Crypto Research Platform Dyor. “When panic starts, liquidity flows to bitcoin beyond risky assets, and once again prove that it is an industry reserved assets.”
After Trump imposed a 25 % tariff on imports from Mexico and Canada, signed a 10 % duty in China, the cryptocurrency fell over the weekend. The United States has a business of about $ 1.6 trillion in three countries.
According to Coinglass, Bitcoin has been looking at $ 377.6 million for the past 24 hours. The ether has a long liquidation of $ 479 million.
Other coins had a deeper cut, but the low sessions were traded off. The ether, which exceeded $ 3,300 on Friday, decreased by 7 % to $ 2,711.05. The coindesk 20 index, which is a wider market scale of cryptocurrencies, has lost more than 1 %. Mes’ coins were one of the most difficult hits.
Jeff Park, director of Alpha Strategies in Bitise Asset Management, stated that the final weakening of dollars and US fees would be “surprising” for long -term bitcoin.
Many believe that bitcoin is a hedge for inflation and uncertainty in the long term, but in the short term, trading like risk assets and caused by Trump tariffs. Due to uncertainty about this month, it may endure further pain this month.
“Digital assets are ultimately like today’s (US Treasury) yield mix (higher breakavas and lower real yields), but to solidify it (about the fear of growth). Jeff Kendrick’s analysts on Monday, Monday, said in Monday’s memo, Jeff Kendrick analysts. “Until then, the $ 90,000 level of BTC may be interrupted for several days when it is dangerous.”
Investors are monitoring $ 90,000 as the main support level of bitcoin, warning that if the cryptocurrency falls below support, a deeper pullback of $ 80,000.
—Michael Bloom of CNBC contributed to the report
