Key Points
- Trump’s tariff narrowing is bullish for BTC, as the markets don’t like trade wars.
- Yesterday, BTC reclaimed $88,000, fueled by institutional adoption and optimism.
The US President, Donald Trump, recently stated that he would narrow his tariff policies, which is bullish for Bitcoin and the crypto market.
On March 24, Bitcoin hit prices above $88,000, fueled by optimism and continued adoption.
White House to Narrow April 2 Tariffs
The Wall Street Journal reported yesterday that the White House would narrow upcoming tariffs, with industrial sectors no longer expecting to see tariffs revealed on April 2. However, the publication revealed that major trading partners will still receive news on reciprocal tariffs.
On the other hand, official reports revealed yesterday evening that Trump also said that he may give a lot of countries breaks on tariffs, but this is something reciprocal.
He reiterated the fact that the US has been “very nice to a lot of countries for a long time,” and the country will be announcing some additional tariffs over the next few days, having to to with automobiles, cars, lumber, and chips.
Previously, Trump announced that April 2nd would be America’s Liberation Day, and the country would start taking back the wealth that was taken from it during the previous “incompetent” Biden administration.
Usually, the crypto markets react to trade wars, so if the upcoming tariff policies loosen up, this will turn out bullish for the markets.
Yesterday, Bitcoin topped $88,000 following bullish events and announcements.
Bitcoin Surpassed $88,000
At the moment of writing this article, BTC is trading above $86,000 after yesterday it hit $88,000.
Yesterday’s price rally was fueled by multiple recent bullish announcements, including the White House considering selling its gold reserves to buy more Bitcoin and the IMF acknowledging Bitcoin and crypto.
March 24 was the day on which the industry learned that Strategy became the first publicly traded Bitcoin-centric company to own more than 500,000 BTC in its treasury.
Also, the US BTC ETFs continued their inflow streak for seven consecutive days, signaling increased institutional interest.
