Bitcoin Yawns as Trump’s Tariff Tsunami Hits 🌊💰

In the waning moments of another day, U.S. President Donald Trump, with a flourish that might have been borrowed from a melodramatic stage play, announced the commencement of his latest tariff policy, declaring with an almost theatrical glee, “IT’S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!”

One might have expected the digital world to tremble at such a pronouncement, yet the market for bitcoin, that enigmatic currency of the future, remained as serene as a lake on a windless morning. Despite the tariff tempest unleashed by the Trump administration at the stroke of midnight, bitcoin’s value continued to float around the $116K mark, much as it had done for the past 24 hours, indifferent to the political storms that raged around it.

The tariffs, which Mr. Trump has painted as a necessary act of retaliation against what he perceives as decades of economic injustice, have indeed sent ripples through the international community. Countries such as Switzerland found themselves in a sudden scramble to negotiate, having been slapped with a 39% tax on their goods entering the United States. Canada, the loyal neighbor to the north, did not fare much better, facing a 35% tariff, much to the chagrin of Prime Minister Mark Carney, whose attempts to engage in dialogue were met with a dismissive wave from the American president.

“We haven’t really had a lot of luck with Canada,” Trump mused last month, his words dripping with a blend of frustration and disdain. “I think Canada could be one where they’ll just pay tariffs. It’s not really a negotiation.”

Yet, amidst this tariff turmoil, the financial markets seemed to shrug off the drama. The S&P 500, Nasdaq, and Dow all managed to climb modestly, rising 0.77%, 0.90%, and 0.52% respectively on Friday. The broader crypto market, too, showed a slight uptick of 0.76%, while bitcoin itself remained steadfastly flat, a silent observer in a world of chaos.

Market Metrics at a Glance

Bitcoin’s trading value mirrored the previous day, settling at $116,188.20, a mere 0.41% increase over the last 24 hours and a 0.82% rise for the week, according to Coinmarketcap. The cryptocurrency’s price oscillated between $115,696.49 and $117,689.20 since the tariff announcement, a testament to its resilience in the face of geopolitical upheaval.

(BTC price / Trading View)

//static.news.bitcoin.com/wp-content/uploads/2025/08/btc-d_2025-08-08_13-20-41.png”/>

(BTC dominance / Trading View)

Bitcoin futures open interest inched up by a paltry 0.19% to $80.43 billion, while total liquidations over 24 hours remained unchanged at $32.86 million. Short liquidations, ever the more daring, accounted for $23.47 million of the total, leaving the long liquidations to trail behind at $9.39 million.

Read More

2025-08-08 21:19