Bitcoin Slips For Third Consecutive Day as Canada’s Trudeau Retaliates to Trump’s Tariffs

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🚨💸 THE bitcoin-usd/”>BITCOIN BUBBLE BURSTS?! 🚨💸

Bitcoin Slips For Third Consecutive Day as Canada’s Trudeau Retaliates to Trump’s Tariffs

As the world teeters on the brink of chaos, what can we expect?

  • BTC trades weak for third consecutive day, a pitiful display of its former grandeur, offering risk-off cues to traditional markets.
  • Canada joins Mexico in slapping retaliatory tariffs on the U.S., because who needs diplomacy when you can just slap on some tariffs, eh?
  • Renewed trade war plus mass deportations of illegal migrants is seen injecting inflation into the global economy, because who needs a stable economy when you can have a good old-fashioned trade war?

Bitcoin (BTC), the leading cryptocurrency by market value and the only macro asset open for trading over the weekend, held below $100,000, trading weak for the third straight day, like a sad, sad puppy, as Canada joined Mexico in announcing retaliatory import tariffs against the United States.

Prime Minister Justin Trudeau said Canada would impose 25% tariffs on U.S. goods, from drinks to appliances, because who needs a good relationship with your neighbors when you can just slap on some tariffs?

The renewed trade war, coupled with mass deportations of illegal migrants from the U.S., could add to inflation, weakening the case for speedy Fed rate cuts, because who needs a stable economy when you can have a good old-fashioned trade war?

BTC’s price weakness likely reflects these concerns and offers risk-off cues to traditional risky assets, because who wants to invest in something that’s just going to tank?

The broader crypto market followed BTC lower, with the CoinDesk 20 Index falling over 2%, because when one asset goes down, they all go down, like a house of cards in a hurricane.

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2025-02-02 12:03