The beginning of the new week in the cryptocurrency market is marked by significant fluctuations, with Bitcoin's price exceeding $95,000. These changes are attributed to recent statements by former President Trump and Treasury Secretary Bessent.
What Did Trump Say About Canada?
In recent comments, Trump touched on the Canadian elections, suggesting that Canada should consider becoming the 51st state of the U.S. He encouraged voters to back candidates who support this idea, hinting that without this change, high tariffs may become inevitable.
CITE_NA: "Either become a state or pay high taxes."
What Insights Did the Treasury Secretary Provide?
Treasury Secretary Bessent also shared her thoughts on the tariff discussions, indicating that a tax meeting was scheduled. She mentioned the possibility of trade agreements being established soon, which could help mitigate the effects of tariffs on the market.
CITE_W_A: "A tax meeting is today. The first trade agreement could be made as soon as this week or next."
Impact of Political Factors on Cryptocurrencies
Political dynamics have a noticeable effect on the cryptocurrency market. The obligations and promises of current officials highlight the interconnection between politics and digital currencies. Anticipated agreements may positively influence current market trends.
The cryptocurrency market remains sensitive to political changes, and the coming days may bring new volatility and opportunities amid trade negotiations.
