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President Trump’s Flip-Flop on Trade Tariffs Sends Shockwaves Through Markets

Market Volatility and Bitcoin’s Response

President Trump’s recent flip-flop on his trade tariff policy has sent shockwaves through financial markets, leaving investors confused and uncertain about what to do. As a result, Bitcoin, a risk asset, has also been affected by the volatility, swinging between $94,770 and $82,681 over the last seven days. According to CoinGecko, it is currently trading at $85,925, rising by less than 1% over the past week.

Market Uncertainty and Bitcoin’s Response

As the S&P 500 had its worst week in months, Bitcoin felt the pain as well, experiencing a crash on Monday and Tuesday following last Sunday’s surge prompted by Trump’s crypto reserve posts. The price even fell again on Thursday after President Trump formally announced the creation of a Bitcoin reserve and accompanying crypto stockpile.

Why is this Happening?

Traders may have sold the news late Thursday, following plenty of speculation around reserve plans, as well as the coin’s continued correlation with volatile U.S. equities during times of macroeconomic uncertainty.

ETF Movements

American investors pulled money out of new Bitcoin ETFs this week as President Trump’s trade policy made the funds less appealing. Friday was the week’s worst day, with $409 million worth of outflows, bringing the week’s losses to $740 million, according to Farside Investors data.

Bitcoin Reserve Announced

It finally happened: President Trump signed an order to establish a Bitcoin strategic reserve. The reserve, which will function like other government reserves, will hold the nearly 200,000 Bitcoin that the U.S. already has in its possession from seizures.

Selling Gold for BTC? Not Yet

Still, how much more buying and holding will authorities do? White House Crypto Czar David Sacks said ahead of the White House crypto summit on Friday that the Trump administration isn’t planning to sell off reserve government assets like gold to buy up more Bitcoin… at least not yet.

Texas Plans Move Forward

In other news, the state of Texas edged closer to getting its own Bitcoin reserve after the Senate passed a bill on Thursday. The proposed legislation, bill SB 21, aims to create a “state-managed investment fund focused on Bitcoin and other high-market-cap cryptocurrencies.”

Conclusion

The recent events have sent shockwaves through financial markets, leaving investors uncertain and confused. The flip-flop on trade tariffs has affected not only the stock market but also Bitcoin, a risk asset. The creation of a Bitcoin reserve and the announcement of plans to acquire more Bitcoin have sparked speculation and uncertainty. As the situation continues to unfold, investors will be watching closely to see how it all plays out.

FAQs

• What is the current price of Bitcoin?
  • The current price of Bitcoin is $85,925, rising by less than 1% over the past week.
• What is the S&P 500’s worst week in months?
  • The S&P 500 had its worst week in months, which has affected Bitcoin’s price.
• What is the purpose of the Bitcoin reserve?
  • The Bitcoin reserve will hold the nearly 200,000 Bitcoin that the U.S. already has in its possession from seizures and will function like other government reserves.
• Will the government sell off reserve assets like gold to buy more Bitcoin?
  • Not yet, according to White House Crypto Czar David Sacks. The administration is not planning to sell off reserve government assets like gold to buy up more Bitcoin… at least not yet.
• What is the purpose of SB 21 in Texas?
  • The proposed legislation, bill SB 21, aims to create a "state-managed investment fund focused on Bitcoin and other high-market-cap cryptocurrencies."