Odaily Planet Daily News QCP Capital posted on its official channel that the tariffs determined on Canada, Mexico and China after Trump announced his crypto reserves, and the retaliatory measures quickly taken by Canada and China - all of these have added fuel to the already uncertain crypto market. Bitcoin rose to $94,000 before plummeting to $83,000, and is currently stabilizing around $88,000 in volatile trading.
Meanwhile, the U.S. Secretary of Commerce hinted at a partial reduction in tariffs, which may be announced after Trump's State of the Union address. As the macro environment continues to change, cryptocurrencies remain closely related to stocks, and their price movements reflect broader economic changes.
This Friday is a historic milestone - the first White House Crypto Summit. But the market remains on the sidelines due to the absence of any specific executive orders, funding commitments or congressional support. Investors see this as a high-risk asymmetric event that could drive prices or trigger a massive sell-off.
The market is now highly focused on the release of key economic data: this Friday's non-farm payrolls report and next Wednesday's CPI data. This will play a key role in shaping the direction of the market and providing a macro outlook.