‘Safest bet in crypto’: Bitcoin rebounds above US$100,000 as US delays Mexico tariffs

Bitcoin climbed over 3% to US$101,241.37 on Monday, recovering from a weekend slump triggered by US tariff announcements.

The rally followed news that the US will pause tariffs on Mexican goods for one month — easing immediate trade tensions. Bitcoin traded as low as US$91,212.63 earlier Monday after President Donald Trump imposed tariffs on Mexico, Canada, and China over the weekend.  

Bitcoin’s resilience contrasted with broader market jitters, drawing attention to its perceived stability. 

“Bitcoin holding up better than the rest of the market reinforces its position as the safest bet in crypto,” Ben Kurland, CEO at crypto research platform DYOR, told CNBC

“When panic sets in, liquidity flows to Bitcoin over riskier assets, proving once again that it’s the industry’s reserve asset.”

Trump also signed an executive order Monday outlining plans for a government-run sovereign wealth fund — a move some speculate could eventually include seized crypto holdings. 

Over the weekend, cryptocurrencies sank as tariffs took effect, including a 25% duty on Mexico and Canada and 10% on China. The US conducts US$1.6 trillion in annual trade with the three nations.  

Bitcoin saw US$377.6 million in long liquidations within 24 hours, per CoinGlass, while Ether faced US$479 million. Ether fell 7% to US$2,760.88 after topping US$3,300 on Friday; meme coins suffered steeper losses.  

Bitcoin’s short-term swings remain tied to trade policy uncertainty, but its long-term appeal as a hedge against inflation and dollar weakness remains.

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