TRUMP TARIFFS: BITCOIN PLUMMETS LIKE A ROCK 🤯

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TRUMP TARIFFS: bitcoin-usd/”>BITCOIN PLUMMETS LIKE A ROCK 🤯

TRUMP TARIFFS: BITCOIN PLUMMETS LIKE A ROCK 🤯

  • Bitcoin price drops over 6% after Trump’s tariffs, with global markets bracing for further fallout. It’s like the entire world is holding its breath, waiting for the other shoe to drop. Or, you know, for the tariffs to drop.
  • Tariffs hit Bitcoin and altcoins hard, with market sentiment shifting toward a cautious, bearish outlook. Because, you know, nothing says “bullish” like a 10% tariff on all exports to the US.

The market is reeling after U.S. President Donald Trump’s latest trade tariff bombshell. It’s like he took a giant hammer and swung it at the global economy, shouting “I’m a tariff master!”

Bitcoin [BTC], the flagship digital asset, felt the brunt of the impact, nosediving by over 6% in the wake of the announcement on the 2nd of April. Because, you know, nothing says “stable” like a 6% drop in a matter of hours.

As Trump’s tariffs target 185 nations, the fallout has been swift — liquidations hit hard, and asset prices are in freefall. It’s like the entire world is playing a game of musical chairs, but with tariffs instead of chairs.

With the global economy bracing for ripple effects, can Bitcoin ride out the storm, or is this the beginning of a deeper plunge? Only time will tell, but one thing’s for sure: it’s going to be a wild ride.

Trump’s tariff storm

On Wednesday, U.S. President Donald Trump announced an aggressive set of tariffs, rocking the global financial markets. It’s like he took a page from the “How to Start a Trade War” playbook and said, “Hey, let’s do this!”

A minimum 10% tariff would be imposed on all exports to the U.S., with additional duties targeting 60 countries with the largest trade imbalances with the superpower. Because, you know, nothing says “fair trade” like a 10% tariff.

China was hit hardest, facing a steep 34% tariff, followed by India (26%), Japan (24%), and the European Union (20%). It’s like Trump took a giant map of the world and said, “I’m going to tariff this, and this, and this, and… oh, and this too!”

In a televised address from the White House’s Rose Garden, Trump justified the move by claiming that the US is charging “approximately half of what they are and have been charging us.” Because, you know, nothing says “diplomacy” like a good old-fashioned tariff fight.

While initial reactions in the crypto market were positive, with a brief uptick following the announcement of the 10% universal tariff, the market soon turned south. It’s like the entire world said, “Wait a minute, this is a bad idea!”

As the full scope of the tariffs became clearer, sentiment shifted, and prices across the board began to drop. Bitcoin, which had been trading near $87K, saw a dramatic dip to as low as $82K before staging a mild recovery. It’s like the market said, “Oh no, we’re in trouble!”

Tariffs wreak havoc on Bitcoin price

Following the sharp drop triggered by Trump’s tariff announcement, Bitcoin attempted to stabilize near the $83,000 mark. But, you know, it’s like trying to hold water in your hands – it’s just not happening.

The latest hourly chart shows a mild recovery after the initial plunge, but momentum remains weak. It’s like the market is saying, “We’re not out of the woods yet!”

The OBV indicates declining buying interest, while the RSI hovers around 45, suggesting neutral to slightly bearish sentiment. With volume tapering off, Bitcoin’s ability to reclaim higher levels remains uncertain. It’s like the market is saying, “We’re not sure what’s going to happen next, but it’s not looking good!”

As the market digests the broader economic implications, cautious trading is likely to persist. It’s like the entire world is saying, “Let’s just take a deep breath and hope for the best!”

Have altcoins been hit too?

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2025-04-03 17:16