Bitcoin Fluctuates Amid U.S. Tariff Confusion – From $85,000 to $83,000
Bitcoin (BTC) is fluctuating as the U.S. clarifies that its recent tariff exemptions for 20 electronic devices, including smartphones, do not constitute a mutual tariff exemption. The cryptocurrency’s price swings have intensified as uncertainty surrounds U.S. tariff policies.
According to Bithumb,as of 9:38 AM on Monday, Bitcoin was trading at around $85,892, up 0.43% from the same time yesterday.
On the same day, CoinMarketCap reported Bitcoin trading at $84,559, down 0.51% from the previous day.
After hovering around $85,000, Bitcoin dipped to $83,044 before rebounding to the $84,000 range. This volatility appears linked to mixed signals regarding U.S. tariff policies.
On Friday, U.S. Customs and Border Protection announced tariff exemptions for 20 items, including smartphones, laptops, hard drives, and semiconductor equipment. This easing of economic uncertainty from global trade tensions briefly pushed Bitcoin to $85,778 over the weekend.
However, the cryptocurrency retreated after President Donald Trump denied any mutual tariff exemptions. On Sunday, Trump stated on Truth Social, “There are no tariff exceptions announced on Friday,” adding that no one would escape the unfair trade balances and non-monetary tariff barriers imposed on the U.S.
The U.S. Secretary of Commerce Howard Lutnick echoed this sentiment, explaining that the exclusion of certain electronics from mutual tariffs was intended for separate tariff impositions. He indicated that tariffs on semiconductors and pharmaceuticals would be announced within two months.
Mantra’s Price Plunge is Not a Rug Pull
Layer 1 blockchain Mantra (OM), which has recently seen its price plummet, has denied allegations of a rug pull.
On Sunday, Mantra CEO John Patrick Mullin took to X to address the situation, stating that the sharp decline in OM’s price resulted from large-scale forced liquidations. He added that they are not abandoning the project and still hold their tokens.
Mantra’s price recently plummeted from $6.30 to below $0.50, wiping out over 90% of its market cap. This dramatic fall sparked concerns of a potential rug pull – a scam where developers abandon a project after collecting investor funds.
SEC Calls for Regulatory Sandbox for Security Tokens
Mark Uyeda, Acting Chair of the U.S. Securities and Exchange Commission (SEC), has advocated for a regulatory sandbox for security token (ST) companies to foster blockchain innovation.
On Friday, CoinDesk reported that Uyeda made this proposal during an SEC virtual asset task force round table conference. He emphasized the need for a regulatory sandbox to promote market innovation while the SEC develops comprehensive virtual asset regulations.
Uyeda argued that implementing a regulatory sandbox for security tokens trading firms could spur greater blockchain innovation as the SEC works on long-term regulatory frameworks.
The round table conference focused on regulations surrounding virtual asset trading.
One in Five Americans Own Crypto
A recent survey reveals that one in five American adults own cryptocurrency or other virtual assets.
On Friday, CryptoSlate reported findings from a U.S. Virtual Asset Association survey of over 53,000 Americans. The study found that 21% of respondents own virtual assets.
The survey showed that 67% of crypto investors are under 45, while 15% are over 55. Men make up 67% of investors, compared to 31% women. Notably, 76% of investors reported that their virtual asset investments had a positive impact on their lives.