It’s been less than two weeks since Donald J. Trump swaggered back into the White House, and he’s already thrown more wrenches into the works than a toddler in a tool shop. His latest shenanigan? Slapping hefty tariffs on China, Canada, and Mexico over the weekend.🎪
And because he dropped this bombshell on a weekend, the lone financial market open for business was the one bracing for impact. Brace yourselves; this is going to be fun.🙄
Bitcoin Crashes Like a House of Cards 💥
“We don’t want to be here; we didn’t ask for this.” A cheeky mic drop followed by a “We’re standing up for Canadians.” Go Canada! 🇨🇦
Meanwhile, Mexico’s revving up a retaliatory fiesta, and China’s readying a head-to-WTO charge. Trump’s got this nifty little clause to up the ante if they do. Sounds like a fun weekend barbecue, right?
By the time Trump’s orders hit the fan on Saturday, the only market taking the beating was our old pal Bitcoin. The poor digital coin tumbled from over $106,000 on Friday to under $98,500 today. Ouch. Talk about a rollercoaster ride. 🎢
Gold, on the Other Hand, is Living the High Life ✨
While Bitcoin was getting slapped around like a piñata, Gold was basking in its shiny glory. It skyrocketed to a brand-new all-time high of nearly $2,820/oz on Friday. But, in true drama-queen fashion, it retraced to just under $2,800 by the end of Friday (and January).
Of course, Gold’s faced less weekend adventure since non-crypto financial markets love their downtime. We’ll have to wait for Monday’s Asian trading session to see if Trump’s moves will add glitter or grit to the golden narrative.
As for Bitcoin and the crypto party? Buckle up. The crash may just be getting warmed up. It seems volatility has a permanent weekend pass. 🎟️😅
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2025-02-02 16:15