Bessent to Announce Major Tariffs as Bitcoin Hits $105k
US Treasury Secretary Bessent said the administration will unveil major tariffs within the next few days. The announcement has stirred volatility across the crypto market. Bitcoin rebounded sharply, climbing past $105,000. Ethereum also surged, approaching $3,600 with a 3% gain over 24 hours. Traders are watching closely. The proposed tariffs could influence trading volumes and market sentiment. Uncertainty remains over whether the tariffs will buoy or dampen crypto prices. Market history shows that shifts in US trade policy often trigger short-term rallies in Bitcoin and altcoins. For now, Bitcoin’s price action reflects a bullish mood, but long-term effects depend on tariff details and global trade dynamics. Crypto traders should monitor upcoming US tariffs and adjust strategies accordingly.
Bullish
With Bitcoin’s immediate rally past $105,000 and Ethereum’s 3% gain on the news, trader sentiment leans bullish. Historically, US policy announcements, including tariff audits in 2025, triggered short-term crypto price spikes, as seen when Bitcoin jumped 8% post-announcement. In the short term, anticipation of US Treasury’s tariff news is boosting trading volumes and volatility. If the tariffs are viewed as favorable or limited in scope, they could sustain upwards momentum. Over the long term, the market will respond to the actual tariff details and their impact on global trade. However, the swift rebound suggests that traders are currently pricing in a positive scenario, underscoring a bullish market outlook.