BITCOIN Crosses $90K as Trump Delays Canada, Mexico Auto Tariffs
Bitcoin's fundamentals held up well during the latest dip, suggesting underlying strength, Swissblock analysts said. The U.S. government confirmed to delay tariffs on auto parts coming from Canada and Mexico by one month just one day after enacting them, easing investor worries with bitcoin leading the crypto market higher. Germany's plan to ease debt limits for infrastructure spending and China hiking its target deficit also contributed to rebounding risk markets.
- The seeming disconnect between Trump's delay of tariffs and bitcoin's surge highlights the growing influence of macroeconomic factors on cryptocurrency prices, raising questions about the long-term sustainability of such correlations.
- Will the continued rise in bitcoin's value lead to increased regulation or scrutiny from governments worldwide, potentially altering its store-of-value status?