CandleFocus Bitcoin Price Jumps Above $102K as Trump Team Weighs Narrower Tariffs: Report
2025-01-06
Author: Content Editor
The price of Bitcoin surged above $100,000 as the US dollar weakened following reports that President-elect Donald Trump's team is considering a pared-back tariff plan. The Washington Post reported that the plan could be limited to covering only critical imports, such as medical supplies or energy production. Trump pushed back on the report, stating that his tariff policy will not be pared back. Higher tariffs could impact Bitcoin's price in the short term as it is correlated with the strength of the dollar. However, the increased use of tariffs is part of larger trends that are driving investors to alternative stores of value like Bitcoin.
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