Crypto Bounce Back

The last 36 hours have been crazy and volatile. News about Trump's tariffs broke Saturday evening and crypto and markets responded quicky their after. Trump signed a executive order placing tariffs on Mexico, Canada, and China. Soon after the announcement reports were floating around that China and Canada would response with tariffs on the US.

Crypto and the market in general saw significant declines over the weekend and late Sunday night. However, as many expected crypto loves a crisis and started rebounding as soon as the market opened this morning and has continued to hold its ground into this evening. Reports are now surfacing the Mexico and Canada have reached a deal with the US and the reported 25% tariffs will not go into effect on Tuesday and will be postponed for at least 30 days.

Bitcoin recovered from $91,178 to $102,599 in less than 20 hours, that a 11% move! This is a perfect example of how people over react and market makers take advantage of these swings to flush out traders who hold highly leveraged positions.

American Sovereign Wealth Fund

Trump signed executive order for a sovereign wealth fund this afternoon, the fund will be run by two pro-crypto people fueling the speculation that some crypto coins will be added to the fund. Senator Lummis says this US Sovereign fund is a "Big Deal", she has been extremely outspoken about the US buying BTC.

Crypto Czar to Hold Press Conference

David Sacks who was recently appointed as the Crypto Czar has scheduled a press conference tomorrow 2/4 at 2:30 ET to discuss how the Trump Administration and Congress will work together to secure America as a leader in the digital asset ecosystem. Keep an eye on this press conference if Sacks announce US buying crypto prices will responded favorably.