Bitcoin Price Falls. Why the Crypto’s Tariff Boost Is Fading.
$BTC pulled back early Tuesday while other cryptocurrencies were mixed as macro events continued to affect the price of digital assets.
is down 1.6% to $102,771 over the last 24 hours, according to CoinDesk data. It briefly rose above $105,000 in the early hours of Monday as the U.S. and China agreed to a 90-day pause on most tariffs on each other’s goods, but the crypto quickly gave back those gains.
Most altcoins’ relatively small losses Tuesday aren’t surprising given the big gains seen Monday. Profit-taking often follows large price jumps. The S&P 500 closed 3.3% higher Monday
$BTC , however, only held on to its trade deal gains for just about an hour on Monday before reversing. It appears the market has a bigger appetite for stocks and altcoins right now, and Bitcoin might not be perceived as the risky asset it once was.
