Bitcoins <\/p>\n
Updated Feb 3, 2025, 1:23\u202fp.m. UTC<\/span>Published Jan 31, 2025, 6:59\u202fp.m. UTC<\/span><\/p>\n<\/div>\n It’s deja vu all over again in crypto after a hopeful report on a tariff delay was refuted by the White House.<\/p>\n To review, President Trump on Thursday promised to impose 25% tariffs on Mexico and Canada beginning Saturday Feb. 1. Having rallied over $106,000 prior to that news, bitcoin (BTC) quickly reversed 2% lower<\/a> to around the $104,000 level. U.S. stocks gave up a chunk of earlier gains, though still finished the session in the green.<\/p>\n Friday then brought a report from Reuters<\/a> suggesting the tariffs would be delayed until March 1 as a process was put in place to allow countries to seek exemptions for certain exports.<\/p>\n The White House, though, called that report “false,” with Trump’s Press Secretary Karoline Leavitt minutes ago telling reporters<\/a> the tariffs \u2014 including a 10% levy on China \u2014 will go into effect tomorrow.<\/p>\n Similar to Thursday, bitcoin earlier had climbed above $106,000 and seemed set on a challenge of a new record above $109,000. The tariff news, however, once again sent prices careening lower, with bitcoin trading just below $103,000 at press time, down 2.3% over the past 24 hours. <\/p>\n