Bitcoin rose 8% this week, rebounding past $85K amid trade news. Trump’s 90-day tariff pause (excluding China) eased markets. BTC shows strength vs equities despite ETF outflows and high volatility.
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Bitcoin back above Liberation Day levels
Bitcoin has seen an 8% gain on the week as price has risen back above $85,000. This follows Trump’s 90-day tariff pause that offered relief for beaten-down global markets. China was the only exemption from Trump’s pause, leading to an escalation in trade war tensions between the two economic behemoths last week. However, the U.S. has temporarily exempted consumer electronics from Chinese tariffs and indicated potential temporary exemptions for the auto industry.Elsewhere, “Real World Asset” protocol Mantra saw a violent 90% crash in its token - $OM - over the last few days, collapsing from over $6 to below $0.60 and wiping out around $6 billion in
Abnormal observations across the board this week. Most notably, BTC has faced significant relative strength amidst equities facing their largest daily drawdowns since the Covid-days. What causes BTC's relative strength?lg...more