Cryptocurrency Surges and Market Turmoil Amid Tariff Tensions

Asian shares cautiously rose as bitcoin spiked due to its inclusion in a U.S. strategic reserve. President Trump announced five digital assets for the reserve including bitcoin. Concerns over upcoming tariffs and a possible U.S. recession remain high. Meanwhile, oil and gold prices see modest gains.

Asian stock markets showed cautious gains at the beginning of the week as anticipation over potential tariffs loomed large in investors' minds. In a surprising turn of events, bitcoin surged following news of its planned inclusion in a new U.S. strategic cryptocurrency reserve.

President Trump revealed on social media that the strategic reserve would feature digital assets including bitcoin, ether, XRP, solana, and cardano. Following a 10% rise on Sunday, bitcoin adjusted to $93,230 on Monday, while ether stabilized at $2,448.

Amid these developments, concerns continue over global tariffs, with tensions between the U.S., Canada, Mexico, and China escalating. Investors remain on edge as markets await key economic indicators from the U.S., including the January payrolls report and Federal Reserve actions.

(With inputs from agencies.)