On February 19th, U.S. President Trump declared a potential 25% tariff on imports including vehicles, semiconductor chips, and pharmaceuticals, with a projected implementation date as early as April 2nd. This announcement underscores a strategy designed to incentivize domestic production and may lead to escalated tensions in international trade as other nations could retaliate with their own tariffs. Notably, the ongoing U.S. tariffs on steel and aluminum, initiated on March 12th, further complicate the landscape.
In the realm of cryptocurrency, the market reacted sharply with Bitcoin experiencing volatility. On the morning of February 19th, the cryptocurrency’s price dipped to a low of $93,300 before rebounding to $95,400. Analysts suggest that Bitcoin is currently in a consolidation phase, with immediate support identified between $92,500 and $91,800. Conversely, a breach of the resistance level, marked at $100,500 to $99,800, may enable Bitcoin to maintain stability above the $100,000 threshold.