{"id":364067,"date":"2025-02-01T04:35:13","date_gmt":"2025-01-31T23:05:13","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=364067"},"modified":"2025-02-01T04:35:13","modified_gmt":"2025-01-31T23:05:13","slug":"bitcoin-xrp-and-dogecoin-fall-fast-as-trump-tariffs-confirmed-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-xrp-and-dogecoin-fall-fast-as-trump-tariffs-confirmed-crypto-news\/","title":{"rendered":"Bitcoin, XRP and Dogecoin Fall Fast as Trump Tariffs Confirmed – Crypto News"},"content":{"rendered":"
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The price of Bitcoin dove under $101,600 Friday after President Donald Trump\u2019s administration confirmed that tariffs on China, Mexico, and Canada are imminent. The plunge has pushed Bitcoin down by nearly 3% over the past day at a current price of $102,060.<\/span><\/p>\n

During a <\/span>press conference<\/span><\/a>, White House Press Secretary Karoline Leavitt said that the president will soon implement 25% tariffs on Mexico and Canada, while China will face 10% tariffs. The taxes on imported goods will take effect when the tariffs are fully unveiled Saturday, she said.<\/span><\/p>\n

Analysts have said that tariffs <\/span>could<\/span><\/a> put pressure on Bitcoin\u2019s price in an indirect way, contributing to the U.S. dollar\u2019s strength over the short term.<\/span><\/p>\n

The Federal Reserve is meanwhile monitoring how potential shifts in immigration and trade policy could impact its inflation outlook. During the Fed\u2019s December policy meeting, officials <\/span>expressed concern<\/span><\/a> that bringing inflation down to its 2% target could be challenging under the new president, given potential policy shifts.<\/span><\/p>\n

While tariffs could therefore impact the timing of rate cuts, which Bitcoin has so far thrived on, Bitwise Senior Investment Strategist Juan Leon told <\/span>Decrypt<\/span><\/i> that the flow of capital within markets may face an immediate impact as well.<\/span><\/p>\n

\u201cProtectionist tariffs tend to slow down capital market flows,\u201d he said. \u201cInvestors may be worried that tariffs could drain liquidity going to alternative investments like crypto.\u201d<\/span><\/p>\n

Prior to plummeting Friday, Bitcoin\u2019s price had recouped losses seen earlier this week as China\u2019s DeepSeek <\/span>rattled<\/span><\/a> tech markets. On Thursday, the asset\u2019s price came within 3% of its all-time high of $108,780, notched alongside Trump\u2019s inauguration on January 20.<\/span><\/p>\n

On Wall Street, major stock indices fell on Leavitt\u2019s confirmation. The S&P 500 dropped 0.5%, while the tech-heavy Nasdaq Composite shaved off 0.3%. The Dow Jones Industrial Average stumbled 338 points.<\/span><\/p>\n

At the start of this month, Bitcoin\u2019s price <\/span>swelled<\/span><\/a> above $100,000 for the first time in weeks after the <\/span>Washington Post <\/span><\/i>reported that Trump\u2019s administration was mulling a paired-back tariff plan.<\/span><\/p>\n

Trump pushed back against the <\/span>Post<\/span><\/i>\u2019s report, but the U.S. dollar still weakened.<\/span><\/p>\n

\u201cThe story in the Washington Post, quoting so-called anonymous sources, which don’t exist, incorrectly states that my tariff policy will be pared back,\u201d Trump <\/span>posted<\/span><\/a> to Truth Social.<\/span><\/p>\n

Prior to Friday\u2019s press conference, the Trump team had reportedly weighed a gradual approach to tariffs, potentially increasing them each month, per <\/span>Bloomberg News<\/span><\/i><\/a>.<\/span><\/i><\/p>\n

As Bitcoin fell, some altcoins showed greater losses over the past day. XRP\u2019s price had fallen 3% to $3.04, while Solana\u2019s price had dropped more than 4% to $230. Dogecoin’s is down less than 2% on the day to a current price of $0.327, though it had fallen sharply after the tariffs news broke. Ethereum\u2019s price, however, had risen 2% over the past day to $3,315.<\/span><\/p>\n

Edited by Andrew Hayward<\/a><\/i><\/p>\n

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The price of Bitcoin dove under $101,600 Friday after President Donald Trump\u2019s administration confirmed that tariffs on China, Mexico, and Canada are imminent. The plunge has pushed Bitcoin down by nearly 3% over the past day at a current price of $102,060. During a press conference, White House Press Secretary Karoline Leavitt said that the […]<\/p>\n","protected":false},"author":2,"featured_media":364070,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-364067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/364067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=364067"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/364067\/revisions"}],"predecessor-version":[{"id":364073,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/364067\/revisions\/364073"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/364070"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=364067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=364067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=364067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}