Bitcoin (BTC), the leading cryptocurrency for market value and the only open macro asset for trade during the weekend, remained below $ 100,000, negotiating weak on the third consecutive day, since Canada joined Mexico to announce retaliation import rates against the United States.
Prime Minister Justin Trudeau said that Canada would impose tariffs of 25% to US goods, from drinks to appliances, after President Donald Trump imposed a 25% rate on Canadian and Mexican imports and 10% of the goods of China. China said it would present a case against the United States in the World Trade Organization while promising un specified countermeasures to safeguard its interests.
The renewed commercial war, together with the massive deportations of illegal migrants from the USA, could increase inflation, weakening the case for rapid feeding cuts. The weakness of BTC prices probably reflects these concerns and offers risk signals to traditional risk assets. The largest cryptographic market followed BTC lower, with the Coindesk 20 index falling above 2%.
