Bitcoin swung sharply on Thursday, rebounding toward $67,000 after dipping to roughly $65,900, as traders parsed fresh trade comments from U.S. President Donald Trump.
In a post late Wednesday, Trump said tariffs had slashed the U.S. trade deficit by 78% and suggested the balance could turn positive later this year — something he described as unprecedented in decades. For markets, however, the headline number was less significant than the broader policy signal.
Tariffs effectively act as a tax on imports, raising the risk of higher prices across the economy. That, in turn, can complicate the Federal Reserve’s rate outlook. When investors anticipate interest rates staying elevated for longer, the dollar tends to strengthen and risk assets — including crypto — often come under pressure.
Bitcoin has increasingly behaved like a macro-sensitive asset over the past two weeks, responding more to shifts in rate expectations and liquidity conditions than to crypto-specific news.
Recent economic data has kept trade in focus. In early January, the U.S. trade deficit narrowed sharply to about $29.4 billion, its lowest level since 2009. Analysts attributed the move to softer imports, stronger exports and the knock-on effects of tariff threats. Still, economists cautioned that swings in non-monetary gold flows played an outsized role in the improvement, potentially masking the underlying trend.
If tariff rhetoric evolves into sustained dollar strength and tighter financial conditions, bitcoin rallies may struggle to hold. If it fades into background noise, traders are likely to refocus on flows, leverage and whether bulls can regain lost technical ground.
