Bitcoin Rebounds Above $79K Amid Tariff Threat

Bitcoin recovered above $79,000 after briefly falling to nearly $78,200 due to President Trump's tariff threat on Canadian vehicles and steel. The tariffs are set to rise to 50% from January 1, 2027, as stated in Trump's Truth Social post.

The announcement followed failed US-Canada trade talks, with Canada planning retaliatory tariffs on selected US goods starting September 8.

Bitcoin later traded near $79,300, up over 2% in the past 24 hours. It had previously climbed from around $62,679 on August 17 to nearly $79,500 on August 21, gaining almost 27%.