CryptoQuant Analyst: Trump Tariff Policy Clear Downside Driver for Bitcoin Since 2025, CEX Inflows Lack Sustained Selling Pressure
CryptoQuant analyst XWIN said on Jan. 21 that renewed tariff measures under the Trump administration have been a clear downside factor for Bitcoin since 2025, as these policies directly affect corporate earnings, inflation and monetary policy expectations, weakening overall risk appetite for assets such as Bitcoin. Rising uncertainty around economic growth and interest rate prospects is prompting investors to reduce risk exposure in the short term, with Bitcoin often treated as a liquid asset that can be temporarily sold to rebalance portfolios rather than as a long-term store of value. CEX net flows offer an additional angle, as the adjustment phase has seen brief increases in exchange inflows consistent with temporary position changes, though these inflows have not persisted, suggesting no ongoing structural selling pressure on Bitcoin in centralized markets.