Bitcoin Hits $84K As Trump’s Tariffs Exacerbate Trade Deficit

BTC At $84K
Bitcoin faced a rocky start to the week, losing $86,000 support and dropping to $80,000. After a brief rebound to $84,000, it fell below $77,000 for the first time in months. BTC then recovered to $80,000, climbed on Wednesday with positive CPI data, but was rejected at $84,000.

Friday saw a spike to over $85,000 before retreating back to $84,000. Analysts suggest this support level will determine if BTC can challenge $90,000 soon, with bulls remaining hopeful.

Market Overview
BTC’s market cap is under $1.67 trillion, with a dominance of 59%. SOL and SUI lead altcoin gains, both up over 6%. ETH holds above $1,900, XRP hit $2.4 after a 4% rise, and BNB nears $600. The total crypto market cap has risen by $60 billion to $2.84 trillion.

Source: TradingView

Other Markets

Traders are seeking safe havens as U.S. stock declines shake confidence, with Wall Street’s outlook on S&P 500 profits worsening due to concerns over President Trump’s tariffs. China’s President is in Serbia to strengthen ties with Eastern Europe, while investors back the ‘Xi Put’ amid U.S. market turmoil.

Meanwhile, Canada’s stocks drop as they catch up with global market losses. In Africa, Ethiopia and the AfDB are partnering on a $7.8 billion airport project, while Trump’s tariffs on key goods like smartphones and appliances are exacerbating the U.S. trade deficit.