Bitcoin (BTC), the leading cryptocurrency with market value and the only macro asset that is open to the weekend traded, kept under $ 100,000, which was a faint for the third equal day when Canada joined Mexico in advertising retaliatory imports against the United States.
Prime Minister Justin Trudeau said Canada would impose 25% duty on US goods, from drinks to appliances after President Donald Trump imposed a 25% duty on Canadian and Mexican imports and 10% on goods from China. China said it would file a case against the United States in the World Trade Organization while promising unspecified countermeasures to protect his interests.
The renewed trade war combined with mass portions of illegal migrants from the United States could add inflation, which weakens the case for rapid cuts in bold. BTC’s award-winning probably reflects these concerns and provides risk-off signals for traditional risky assets. The wider crypto market followed BTC lower, with the Coindesk 20 index fell over 2%.
