Analysis: Bitcoin rose first and then fell. US tariffs are good for the rise, and subsequent risks lead to a decline

Bitcoin edged lower after rising to its highest level in more than two weeks on Monday after hopes that US tariffs would not be as wide-ranging as feared fuelled the rally. The Wall Street Journal reported over the weekend that reciprocal US tariffs due to take effect on April 2 would be more targeted than initially thought, boosting US stocks and risky assets including cryptocurrencies. "However, sentiment is fading as uncertainty over the next week and the potential for a second round of tariffs on countries that buy oil from Venezuela adds new variables to President Trump's trade war," Kathleen Brooks, analyst at Dutch Forex Securities, said in a note.