Record-Breaking Bitcoin Rally Falters as Trump’s Tariff Threat Dampens Risk Appetite.

After a rocky start to the week, which saw Bitcoin (BTC) dip below $98,000, the cryptocurrency managed to climb back above $106,000, nearing its previous all-time high of $109,000. However, the momentum faded late on Thursday when President Trump reiterated his plans to impose a 25% tariff on both Mexico and Canada starting February 1. The announcement, citing concerns over immigration, drugs, and subsidies, caused a ripple effect in risk markets, leading to a pullback in stocks and a retreat in Bitcoin’s price to around $104,800.