A new week unfolds with significant volatility in the cryptocurrency market. Bitcoin 
$111,391‘s price has surged above $95,000, while altcoins have responded to recent statements from Treasury Secretary and Trump. As discussions regarding tariffs continue, Trump’s rhetoric holds considerable weight in the current climate.
Statements from the U.S.
Trump addressed the Canadian elections, reiterating the idea of Canada becoming the 51st state of the U.S. He urged people to vote for those who support this notion, warning that tariffs could become permanent. His statements suggesting, “Either become a state or pay high taxes,” do not bode well for cryptocurrencies.
“Good luck to the great people of Canada. Elect the one who will cut your taxes in half and raise your military strength to the highest level in the world for free, if Canada becomes the blessed 51st state. The artificially drawn borders from years ago no longer exist. Just look at how beautiful this land would be. Free access without borders. All positives without negatives. This is how it should be!”
Treasury Secretary Bessent also shared insights about tariff discussions:
“A tax meeting is today. The first trade agreement could be made as soon as this week or next. We will see flexibilities and changes. I am not worried about empty shelves.
We will see what happens with China. Maybe one day they will call me.
We are moving quickly with our 15-18 trade partners. Trump will be closely involved with each. We are making special agreements with our 18 trade partners.”
The announcement of initial agreements early this week may soften the impact of tariffs and support the rise of cryptocurrencies.
