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The probability has doubled from last week as the renewed trade war between the U.S. and its major trading partners threatens to inject inflation into the global economy.

Bitcoin is down sharply over concerns about the potential impacts of the tariffs announced by the Trump administration. Watch these crucial chart levels.

BTC, ETH, SOL all down as the market digests the impact of the possibility of a global trade war

According to Larry Fink, CEO of asset management giant BlackRock, Bitcoin could eventually soar as high as $700,000. In an interview with Bloomberg at the World Economic Forum in Switzerland, Fink outlined a potential scenario that could send Bitcoin on a path to $700,000. Right now, we're at a point where allocating even 1% of a portfolio to Bitcoin is considered risky, especially if you're a pension fund, endowment fund, or other large institutional investor.

The validity of this concept remains to be proven, but per CoinGecko, AI agent coins as a category of cryptocurrencies grew by more than 322% in the fourth quarter of 2024, reaching a total market cap of around $15.5 billion. Today, AI agent coins on Solana (CRYPTO: SOL) have a total market cap of around $1.8 billion. Plus, it has a full framework for developing and publishing what it calls "programs," which correspond to the idea of smart contracts on other blockchains.

India is reviewing its stance on cryptocurrencies due to shifting attitudes towards the virtual asset in other countries, a senior government official told Reuters on Sunday. The review, which follows crypto-friendly policy announcements by U.S. President Donald Trump, could further delay publication of a discussion paper on cryptocurrencies that was due for release in September 2024.

Bitcoin (CRYPTO: BTC) has been on an incredible run over the past six months, rising by 50% in value and hitting a massive milestone along the way, as it topped $100,000 for the first time ever. Crypto investors have been bullish on the recent election results, hopeful that President Donald Trump will help the digital currency reach even higher levels in the years ahead. There's a lot of excitement around the cryptocurrency, and the Trump administration has already made a significant announcement that could prove to be a catalyst to drive the price of Bitcoin even higher.