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20/02/26 17:27 UTC-04

Bitcoin Falls After Donald Trump Announces Tariff Increase

Bitcoin briefly declined after U.S. President Donald Trump announced on Saturday that he would raise the temporary global tariff rate to 15%, before later recovering during the trading session as prices stabilized.

Despite the drop, the leading cryptocurrency remains up 0.7%.

Traders closely monitored Bitcoin’s 24-hour market for clues on how broader markets would react to the new tariffs once most exchanges reopen later over the weekend and on Monday.

The world’s largest cryptocurrency fell immediately after the announcement, reflecting the volatility typically seen in risk assets following major political news. Later, Bitcoin trimmed its losses and reversed higher, returning to previous levels.

Trump stated on Saturday that he plans to increase the temporary tariff applied to imports from all countries from 10% to 15%. This came after the Supreme Court of the United States ruled against part of his emergency tariff program.

“I will… raise… the 10% worldwide tariff… to the fully authorized… level of 15%,” Trump wrote in a post on Truth Social.

See also: "Bitcoin recovers to near $68k, but remains fragile amid rate, geopolitical risks"

#Bitcoin (BTC) #Price drop

Editor: Yuliya Soroka
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