The White House announced that President Biden will implement 25% tariffs on Mexico and Canada, while China will face 10% tariffs. Analysts predict that these tariffs could indirectly impact the price of Bitcoin by strengthening the US dollar in the short term. The Federal Reserve is closely monitoring how immigration and trade policy changes could affect inflation. Tariffs may also affect the timing of rate cuts, which could impact Bitcoin. Bitcoin's price had recouped losses earlier in the week but plummeted after the tariff announcement. Altcoins such as XRP and Solana also experienced losses, while Ethereum's price rose.



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