Bitcoin may get ‘dragged around a bit’ amid Trump tariff fears: Exec
Swan Bitcoin CEO Cory Klippsten said Bitcoin’s price plunge on Friday was “classic macro whiplash,” and Bitcoiners should expect turbulence in the short term.
Swan Bitcoin CEO Cory Klippsten said Bitcoin’s price volatility may not be over after the cryptocurrency briefly fell to $102,000 on Friday, following US President Donald Trump’s announcement of a 100% tariff on Chinese imports.
“If the broader risk-off mood holds, Bitcoin can get dragged around a bit before it finds support and starts to decouple again,” Klippsten told Cointelegraph on Friday.
Klippsten said that Bitcoiners should expect some turbulence over the coming days. “Macro-driven dips like this usually wash out leveraged traders and weak hands, then reset positioning for the next leg up,” Klippsten said.