#vuelta $BTC Over $500 Million in Liquidations Following New Tariff Announcements
Yesterday, former President Donald Trump held a widely anticipated press conference, referring to the occasion as โLiberation Day.โ During his remarks, he announced a 10% tariff on all countries and a 25% tariff on auto imports, stating:
๐ฃ โThe tariffs will not be completely reciprocal, because we are very kind.โ
This announcement initially had a positive impact on Bitcoin (BTC), briefly pushing its price above $88,500.
โ ๏ธ However, the broader economic impact was less favorable. Trump introduced new tariffs on 25 countries, including:
โข China: 34%
โข Japan: 24%
โข Taiwan: 32%
โข India: 26%
โข European Union: 20%
As a result, total U.S. tariffs on Chinese goods have now risen to 54%, despite China being one of the countryโs primary trading partners.
๐จ๐ฆ ๐ฒ๐ฝ Meanwhile, Canada and Mexico have been temporarily exempted from reciprocal U.S. tariffs.
๐ฝ In response to these developments, Bitcoin experienced a 7% decline, leading to over $500 million in liquidations overnight.
๐ As highlighted in our recent YouTube video, this escalation signals the beginning of a new phase in the ongoing trade conflict, with more significant economic consequences expected in April. For a comprehensive analysis, be sure to check our upcoming April market forecast.
#TrumpBTCBoomOrBus