Bitcoin returned to $ 100,000 after the United States agreed to suspend the introduction of imported tariffs for goods from Mexico for a month. Tonight, the largest cryptocurrency in the world collapsed below $ 92,000. The rest of the digital assets also began to recover after a sharp fall.
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The price of bitcoin during the preparation of this note overcame the threshold of $ 100 thousand, in the moment reaching an average price of $ 100 144 according to Coindesk. This corresponds to the daily height by more than 1.96 %. Earlier today, Bitcoin fell to $ 91,687,29, although back on Friday it bargained above $ 102,000.
Ethereum, the second in capitalization of cryptocurrency, is so far less actively restored and has not yet blocked the daily fall. On the night of Sunday to Monday, “Ether” collapsed to $ 2,170.36, but by the time the material was written, to $ 2,744, which corresponds to a decrease by 7.22 % per day.
Other cryptocurrencies are also restored, but not as fast as bitcoin. “Bitcoin holds better than the rest of the market, which strengthens its position as the safest rate in cryptocurrency,” reports CNBC by Ben Kurland, general director of the Dyor cryptocurrency research platform. “When panic begins, liquidity flows into bitcoin, and not into more risky assets, which once again proves that it is a reserve asset of the industry.”
Cryptocurrencies fell on the weekend after US President Donald Trump signed a decree on the introduction of 25 percent tariffs for the import of all goods from Mexico and Canada, as well as 10 percent duties for China. The United States is doing business with these three countries worth about 1.6 trillion dollars.
According to Coinglass, over the past 24 hours, investors eliminated long positions in Bitcoin in the amount of $ 377.6 million. The same positions were closed in the amount of $ 479 million. Coindesk 20 index, reflecting the dynamics of the twenty largest cryptocurrencies, lost more than 1 %. Memic coins were among the most victims, and the memicin associated with Trump collapsed the most.
Despite the partial recovery of the market, experts warn of high volatility of cryptocurrencies in the near future due to the uncertainty caused by Trump’s tariff policy. Some analysts predict the fall of bitcoin below $ 90,000, and possibly even stronger. However, a number of experts remain optimistic in relation to the long -term prospects of the crypto. Jeff Park, the head of the Alfa Strategi department, Bitwise Asset Management, said that a prolonged tariff war may be “surprisingly favorable” for bitcoin in the long term due to a possible weakening of the dollar and reducing interest rates in the United States.