Bitcoin Price Exceeds $84,900 Amid Trump Tariff Exemptions for Electronics
Bitcoin (BTC) increased by over 1.5% to $84,900 on Saturday, aiming to end a three-month downtrend following new tariff exemption guidance from the Trump administration. Key points include:
- The U.S. Customs and Border Protection published exemptions for products like smartphones and computers from the 125% China tariff.
- The U.S. imports over $60 billion in smartphones annually, indicating concessions in the trade war.
- Trade tensions escalated this week with tariffs exceeding 100% between the U.S. and China.
- Some financial markets are pricing in disinflation, suggesting potential interest rate cuts by the Federal Reserve.
- BTC is attempting to establish support above a descending trendline, which may attract more buyers.
- Major alternative cryptocurrencies such as ETH, XRP, and ADA rose by 6%, reflecting increased risk-taking in the market.
- The combined market cap of stablecoins USDT and USDC remained above $200 billion.
This positive momentum signals potential price gains in the crypto market as trading resumes on Wall Street.