Donald Trump called off Feb 1st tariffs, teasing progress being made on the Greenland deal.
It’s been nothing but volatile throughout the past few hours as Donald Trump’s comments shake markets across the board.
In a new twist, the President of the United States has now called off the tariffs that he imposed on several European countries regarding Greenland.
In a statement on Truth Social, he said:
Based upon a very productive meeting that I have had with the Secretary General of NATO, Mark Rutte, we have formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region. This solution, if consummated, will be a great one for the United States of America, and all NATO Nations. Based upon this understanding, I will not be imposing the Tariffs that were scheduled to go into effect on February 1st.
The markets reacted positively to the news after having plunged beforehand. In the past few hours, Bitcoin’s price recovered to around $90K, only to plummet to $87K, then back to $ 90 K at the time of this writing.
This has resulted in a massive spike in liquidated positions, which are currently standing at $1 billion, up 40% in the past 24 hours.
SECRET PARTNERSHIP BONUS for CryptoPotato readers: Use this link to register and unlock $1,500 in exclusive BingX Exchange rewards (limited time offer).
About the author
Georgi Georgiev is CryptoPotato’s editor-in-chief and a seasoned writer with over 8 years of experience writing about blockchain and cryptocurrencies. Georgi’s passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn’t looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping.
