Bitcoin shakes off U.S. session losses as Trump says U.S. trade deficit cut by 78%
Investors are focused less on the accuracy of Trump’s trade figures and more on how renewed tariff talk could mean higher-for-longer interest rates.
What to know:
Bitcoin swung between about $65,900 and $67,000 on Thursday as traders reacted to former President Donald J. Trump’s claim that tariffs have slashed the U.S. trade deficit by 78 percent.
Investors are focused less on the accuracy of Trump’s trade figures and more on how renewed tariff talk could mean higher-for-longer interest rates, a stronger dollar and pressure on risk assets like cryptocurrencies.
Bitcoin has recently been trading as a macro proxy, moving with shifts in liquidity and rate expectations, and could struggle to hold rallies if tariff concerns tighten financial conditions rather than fade into political noise.
