After experiencing a sharp decline earlier in the week, with Bitcoin (BTC) dropping below $98,000, the cryptocurrency rebounded and briefly surpassed $106,000, inching closer to its previous record high of $109,000. However, the upward momentum was halted late Thursday when President Trump reaffirmed his decision to impose a 25% tariff on Mexico and Canada, set to take effect on February 1. The tariff threat, linked to concerns over immigration, drugs, and subsidies, weighed on risk assets, pushing stocks lower and sending Bitcoin back down to approximately $104,800.