Bitcoin Remains Steady Amid Trump’s Upcoming Tariff Increases
Bitcoin (BTC) remains stable despite President Trump's announcement of 25% tariffs on steel and aluminum imports. Market participants view the tariffs as potential negotiation tactics, especially after a temporary suspension on tariffs with Mexico and Canada.
Key highlights:
- Market stability may encourage Trump to adopt a tougher stance, increasing volatility.
- Record open short positions in CME-listed ether futures suggest potential hedging strategies amid altcoin concerns.
- A new memecoin from the Central African Republic saw a trader turn $5,000 into $12 million.
- Litecoin (LTC) is the top-performing cryptocurrency over the last 24 hours, up 9%.
- U.S. consumer inflation expectations rise, raising concerns over Federal Reserve rate cuts; CPI report due Wednesday.
Upcoming Events
Crypto:
- Feb. 13: Kraken begins delisting several stablecoins for EEA clients.
- Feb. 14: Dynamic TAO network upgrade on Bittensor mainnet.
- Feb. 18: FTX Digital Markets starts reimbursing creditors.
- Feb. 21: TON becomes exclusive blockchain for Telegram's Mini App ecosystem.
Macro:
- Feb. 11: U.S. House hearing on digital assets.
- Feb. 12: January CPI report release.
- Feb. 13: Producer Price Index report release.
Market Movements:
- BTC is up 1.80% to $97,805.98.
- ETH is down 0.79% at $2,647.53.
- DXY is up 0.12% at 108.16.
- Gold is up 1.44% at $2,902.17/oz.
Technical analysis indicates potential bearish momentum if BTC fails to hold above key Fibonacci levels.
Investment Statistics
BTC Dominance: 61.70%
Total BTC holdings in ETFs: ~1.176 million.
Daily net flow for spot BTC ETFs: $171.3 million.