$BTC More than $500 million in liquidations following new tariff announcements
Yesterday, former President Donald Trump held a highly anticipated press conference, referring to the occasion as "Liberation Day." During his statements, he announced a 10% tariff on all countries and a 25% tariff on automobile imports, stating:
🗣 “The tariffs will not be completely reciprocal, because we are very kind.”
This announcement initially had a positive impact on Bitcoin (BTC), briefly pushing its price above $88,500.
⚠️ However, the broader economic impact was less favorable. Trump introduced new tariffs on 25 countries, including:
• China: 34%
• Japan: 24%
• Taiwan: 32%
• India: 26%
• European Union: 20%
As a result, U.S. tariffs on Chinese goods have now increased to 54%, despite China being one of the country's main trading partners.
🇨🇦 🇲🇽 Meanwhile, Canada and Mexico have been temporarily exempted from U.S. reciprocal tariffs.
🔽 In response to these developments, Bitcoin experienced a 7% drop, leading to over $500 million in liquidations overnight.
🎞 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 complete analysis, be sure to check our upcoming April market forecast.#
#TrumpBTCBoomOrBus