Share this article
Bitcoin Rally to Record High Knee-Capped as Trump Tariff Threat Hits Risk Assets
The president said he intends to impose 25% tariffs on Mexico and Canada on February 1.
Jan 30, 2025, 9:18 p.m.
What to know:
After an ugly start to the week that saw its price fall below $98,000, bitcoin (BTC) had managed its way back above $106,000 and within view of its record high of $109,000
The rally reversed late in U.S. trading on Thursday after President Trump said he still intends to impose 25% tariffs on Mexico and Canada beginning Feb. 1, citing immigration, drugs and subsidies.
The news sent risk assets lower, with stocks giving up a chunk of earlier gains and bitcoin slipping back to $104,800.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Tom Lee responds to controversy surrounding Fundstrat’s differing bitcoin outlooks
A debate on X over seemingly conflicting bitcoin forecasts from Fundstrat analysts drew a response from Tom Lee, highlighting differing mandates and time horizons.
What to know:
- X users flagged what appeared to be conflicting bitcoin outlooks from Fundstrat’s Tom Lee and Sean Farrell.
- Lee endorsed a post arguing the views reflect different mandates and time horizons, not internal disagreement.
- The episode highlights how public commentary can blur distinctions between short-term risk management and long-term macro views.
Top Stories
