The imposition of tariffs on European countries adds macroeconomic noise and could slow the recent rally in the price of bitcoin
The announcement of new trade tariffs by US President Donald Trump reintroduces a macroeconomic pressure factor that could impact the recent surge in the price of Bitcoin, which in recent days had surpassed $97,000.
On January 17, Trump posted a message on the social media platform Truth Social announcing the imposition of tariffs on European countries.
As detailed, a 10% tariff will be applied to all goods shipped to the United States from Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland—three of the world's largest economies—starting February 1, 2026.
Subsequently, from June 1, 2026, that percentage will rise to 25%.
Although the announcement addresses multiple geopolitical issues, the trade component is the most relevant for the markets. Tariffs are import taxes that increase the cost of international trade, often provoke retaliation, and tend to increase macroeconomic uncertainty.
Consequently, investors adjust their exposure to assets considered risky, including Bitcoin (BTC).
This wouldn't be an unprecedented scenario. Last year, Trump's tariffs on China, combined with other factors, affected traditional markets and Bitcoin as well.
Therefore, the current announcement reignites fears of a similar situation, in which trade tensions affect risk appetite.
At the time of writing, Bitcoin is trading slightly above $95,000, and the market has yet to react to Trump's statements. If these measures materialize, the effects could be seen on the dates indicated.
Bitcoin's recent surge under scrutiny
Adding to the potential danger that a new Trump tariff policy could represent, a recent analysis by the firm CryptoQuant characterizes the current movement of BTC as a "bear market rally".
This concept describes price increases that occur within a general downward trend and that typically run their course before a sustained recovery can take hold.
According to the report, Bitcoin has risen approximately 21% since November 21, following a previous drop of nearly 19% that confirmed a bear market by breaking through the 365-day moving average.
This average is a measure of Bitcoin's price over the past year and typically serves as a boundary between bull and bear markets. Currently, that level is near $101,000, an area the price has yet to reclaim.
Meanwhile, according to CryptoQuant, demand conditions are showing only marginal improvement. US-related indicators, such as the Coinbase premium (which measures whether the local price is higher or lower than in other markets), briefly turned positive.
However, exchange-traded funds (ETFs) halted net selling after shedding approximately 54,000 bitcoins in November, showing no evidence of sustained accumulation, according to the report.
Furthermore, CryptoQuant asserts that on-chain data reinforces this caution. Apparent demand for bitcoin contracted by approximately 67,000 units in the last 30 days, while inflows to exchanges increased to a weekly average of 39,000 bitcoin.
Historically, higher flows to exchanges tend to anticipate selling pressure.
In this context, Trump's tariff announcement adds an external factor that could amplify volatility. If trade tensions translate into a deterioration of the global financial climate, bitcoin's recent rally could face additional obstacles.
At the time of writing this article, the price has confirmed the drop, but for some, the price is just doing what it needs to do before continuing its path; it has simply been a move to eliminate leverage and allow exchanges to release their long positions before BTC continues to rise.
As a final recommendation, don't let fear or FOMO interfere with your analysis; the markets are always tainted and only interested in stealing your money.
Good luck and good profits!
