President Trump's announcement about new tariffs on countries that tax American exports, along with the imminent approval of a historic tax cut, has generated expectations of greater economic growth in the U.S., but also fears about the stability of global trade. This combination of fiscal stimulus and protectionist measures could have mixed effects on financial markets, including Bitcoin and other risk assets.
On one hand, a stronger and more liquid U.S. economy could benefit cryptocurrencies, as it increases the appetite for alternative investments. Additionally, the fear of rising inflation, stemming from fiscal stimulus, could strengthen the narrative of Bitcoin as a safe haven against the loss of purchasing power of the dollar. In this context, Bitcoin finds itself at a tipping point: it could be driven by macroeconomic factors, but also vulnerable to the global volatility that these policies could trigger.
