Bitcoin Price Retreats Amid Tariffs

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The Motley Fool

•

Business

Business & Economics

Why are Trump's tariffs driving Bitcoin's price lower?

Summary

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65% Informative

Bitcoin 's price reached its all-time high of more than $109,000 on Jan. 25 .

But as of this writing, it has retreated more than 20% to about $84,000 .

That decline can be largely attributed to the Trump administration's plans to impose or raise tariffs, which are stoking fears of higher inflation and elevated interest rates.

Trump plans to levy 25% tariffs against products from Canada , Mexico , and the European Union .

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