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On April 4, 2025, the U.S. stock market took a massive hit, losing over $11 trillion in value, which is worth more than the entire crypto market. The Nasdaq 100 dropped 6% in a single day, its biggest fall since March 2020. This sharp decline pushed the U.S. stock market into whats known as a […]
The Bitcoin price plunged by 7.2%from $88,526 to $82,150within the span of four hours following the reciprocal tariff announcement by US President Donald Trump on Wednesday. The precipitous drop aligns with a broader market rout set off by what has been described as one of the largest tariff packages in modern US history. Bitcoin Crashes After Trumps Tariff Bombshell On Wednesday afternoon, markets were jolted by a sweeping set of reciprocal tariffs that President Trump claimed would be levied on 185 countries all at once. The news sent ripples across global finance, with the S&P 500 futures market reportedly shedding $2 trillion of market capitalization in under 15 minutes. According to The Kobeissi Letter (via X): Reciprocal tariffs are officially HERE: President Trump just announced tariffs on 185 countries AT ONCE, one of the largest tariffs in US history. S&P 500 futures erased -$2 TRILLION of market cap in under 15 minutes. Related Reading: Bitcoins Fate Hinges on This Critical Dead Cross Signal Whats Next for BTC? The initial press coverage noted a 10% baseline tariff. However, as Trump spoke, the schemes complexity and scope became more apparent. He clarified that tariffs would be reciprocal but set to half of whatever rate another country currently imposes on US goodsa figure well beyond the 10% baseline in many cases. China, for instance, reportedly applies 67% tariffs on certain imports from the United States, suggesting a 34% tariff reciprocally aimed at Chinese imports. Meanwhile, the European Union could face a 20% tariff. This is VASTLY different than a 10% tariff across the board, The Kobeissi Letter pointed out, adding that these significantly higher rates created massive volatility. At one point in Trumps announcement, the S&P 500 futures reversed from being up 2% to dropping 4%an abrupt 6-percentage-point swing in under 20 minutes. By the time the Make America Wealthy Again Event concluded, the markets had sustained those losses, with Nasdaq 100 futures indicating a potential 500-point decline from prior levels. Bitcoin, which was up 8.9% since Monday morning, instantly experienced the same turmoil, shedding 7.2% of its value. Julio Moreno, Head of Research at CryptoQuant, remarked via X: I hope Bitcoiners learn that Trumps tariffs are a net negative for Bitcoin and the US economy. Related Reading: Is The Bitcoin Bull Run Over? Watch This Key Price He further elaborated: Trump has introduced too much uncertainty to the world economy with his tariffs. Theres a high enough chance of recession if the tariffs last long enough. This of course has hit Bitcoin and crypto prices in spite of a positive regulatory environment and [the Strategic Bitcoin Reserve]. Economic Projections While the precise long-term effects remain unclear, several prominent institutions have already issued forecasts. JPMorgan analysts warn: On a static basis, todays announcement would raise just under $400 billion in revenue, or about 1.3% of GDP, which would be the largest tax increase since the Revenue Act of 1968. We estimate that todays announced measures could boost PCE prices by 11.5% this year… This impact alone could take the economy perilously close to slipping into recession. And this is before accounting for the additional hits to gross exports and to investment spending. Simultaneously, The Kobeissi Letter noted that the average US tariff rateonce the new set of duties is enforcedcould exceed levels not seen since World War II. They cautioned that the White Houses targeted tariff revenue of $600 billion per year may be optimistic, suggesting only half that amount might materialize based on current data. Additional exemptionssuch as copper, pharmaceuticals, semiconductors, and lumberamplified the confusion, indicating that the tariffs will vary widely by sector and country of origin. UBS, as quoted by The Kobeissi Letter, also raised the alarm about inflation: BREAKING: UBS says a permanent implementation of President Trumps reciprocal tariffs would result in inflation rising to 5%. This would be a result of prices rising to adjust to the higher costs of imports. We are on the verge of 5% inflation and negative GDP growth. Although President Trump hinted at forthcoming largest tax cuts in American history, markets did not bounce back on that news. He specified that Medicare, Medicaid, and Social Security benefits would be spared from cuts, but investors and analysts appeared more focused on the immediate shock from the tariff package. At press time, BTC recovered to $83,207. Featured image created with DALL.E, chart from TradingView.com
President Trumps aggressive tariffs rocked global marketstriggering sell-offs in crypto, surges in U.S. Treasury yields, and debates over Bitcoins long-term value. Heres how $BTC is behaving amid economic turbulence.
As Bitcoin (BTC) recovers from its five-month low, the cryptocurrency attempts to reclaim the $84,000 resistance. Some market watchers suggest that more volatility could be around the counter, as the price is compressing between two key levels. Related Reading: Ethereum Set For Potential Rally After 10% Surge Can ETH Recover $1,800? Bitcoin Retests 4-Month Downtrend Line Over the past week, Bitcoin has been trading between the $74,000-$84,000 price range following the recent tariff war-related volatility. After hitting a one-week high of $84,720, the flagship crypto hit a five-month low of $74,773, driven by this weeks market correction. Amid this performance, the cryptocurrency risked a 13.7% drop to the $69,000 support, as it generally needs a daily close above the $78,500 level for a potential short-term rebound. However, BTCs price has surged 13.5% since Mondays lows and attempted to reclaim the $84,000 resistance. The market recovery was fueled by US President Donald Trumps 90-day pause on the trade tariffs for over 75 nations, which saw the crypto market and stock prices jump 6%-10% in an hour this Wednesday. Nonetheless, the tariffs-driven rally slowed Thursday, with Bitcoin retracing nearly 5% to the $79,000 support. Analyst Alex Clay asserted that despite the bullish rally, BTCs price needed to reclaim the broken $80,000 support and break through the descending 4-month resistance as its short-term structure continued looking bearish. During BTCs 7% surge in the past 24 hours, the analyst highlighted the key support zone held, invalidating his bearish scenario. However, a breakout and reclaim confirmation of the $84,000 remained crucial for BTCs price. BTC Preparing For More Volatility? Analyst Rekt Capital pointed out that Bitcoin successfully retested the $78,500 support, but its price was rejected from the 4-month downtrend resistance. Therefore, the flagship cryptos price is now compressing between these two levels, which usually precedes volatility. The analyst also noted that BTC is developing yet another Higher Low on the RSI while forming Lower Lows on the price. During this cycle, the cryptocurrency has formed multiple bullish RSI divergences in the daily chart, each preceding a reversal to the levels. Bitcoin’s Daily RSI equaled 2022 Bear Market RSI levels (RSI=23.93) when price crashed into the high $70,000s. The only lower Daily RSI in this cycle was back in August 2023 (RSI=18.28). Throughout this cycle, each visit into sub-25 RSI resulted in a trend reversal to the upside over time. Related Reading: Solana (SOL) Needs 15% Bounce After Multi-Year Support Retest, Recovery Ahead? Meanwhile, crypto analyst Ali Martinez suggested that BTC could see a retrace back to the $74,000 support zone. He observed that Bitcoins movements within its weekly range display a W-shape to the upper boundary, and its price action seemed to be forming an M-shape after Thursdays retrace and Fridays jump, which eyes the ranges lower boundary. On the contrary, the analyst also highlighted Bitcoins Friday performance, affirming that it is slicing through key resistance at $82,360. Notably, BTCs price then jumped toward the $84,000 barrier, hitting a daily high of $84,220 before retracing to the $83,500 mark. According to Martinez, A sustained breakout could open the door to $91,500. As of this writing, Bitcoin trades at $83,640, a 1% decline in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
The crypto market is on high alert ahead of April 2, a date some analysts are calling the biggest event of the year by an order of magnitude. Macro economist Alex Krüger (@krugermacro), warns that President Donald Trumps upcoming announcement of new reciprocal tariffs could deliver a seismic jolt to global markets including crypto. Why April 2 Is Massive For Crypto In a post shared on X, Krüger describes the looming announcement, which the president has dubbed Liberation Day, as 10x more important than any FOMC meeting: April 2nd is similar to election night. It is the biggest event of the year by an order of magnitude. 10x more important than any FOMC, which is a lot. And anything can happen. According to Krüger, Trump might choose one of several paths: Trump could go soft, in which case markets would rally fast and furiously. Or could go half-way, adding uncertainty on timelines, in which case markets would take out the stops of all longs and shorts. Or go all out, in which case markets could easily crash another 10% to 15%, fast. Related Reading: Crypto Sleuth Claims Mysterious $20M Hyperliquid Whale Is Tied To Illicit Activity Krüger also suggests that the US economy is still strong, but will highly likely slow down due to tariffs regardless of the path Trump chooses. Nevertheless, he notes that many economists have already factored in a sharp year-end slowdown. He stresses that April 2 could mark the peak of market anxiety, aligning with the arrival of US Tax Day just two weeks later. Either way, you all want to be prepared and ready to act on Liberation Day. It will be big. Trumps Liberation Day announcement will reportedly focus on reciprocal tariffs targeting specific countries or blocs deemed to maintain unfair trade barriers. Although this strategy appears more targeted than the barrage he has occasionally threatened, officials familiar with the matter believe it could still prove far-reaching. President Trump has repeatedly signaled that these tariffs would be significant. Citing trade disparities with nations such as the European Union, Mexico, Japan, South Korea, Canada, India, and China, he asserts the US has been treated unfairly for too long. In remarks from the Oval Office, he declared: April 2nd is going to be liberation day for America. Weve been ripped off by every country in the world, friend and foe. Worst Case Scenario Aides and allies suggest that while some countries may be excluded, Trump is looking for immediate impact. Tariff rates could take effect right away, adding to market fears of spiraling retaliation. In this case, Krüger says: In worst case scenario sh*t would hit the fan then tariffs would start coming off as Trump negotiates hard in the following month, in which case peak negativity would hit around week 2 of April, which would coincide with US Tax Day. Related Reading: Trumps Crypto Czar David Sacks Unloads $200M In Digital Asset Holdings Senior officials, including National Economic Council Director Kevin Hassett and Treasury Secretary Scott Bessent, have indicated that the administration is focusing on a dirty 15 group of countries where tariff and non-tariff barriers are allegedly most egregious. Hassett recently remarked, Its not everybody that cheats us on trade, its just a few countries, and those countries are going to be seeing some tariffs. For the crypto market, global macroeconomic events have increasingly played a pivotal role in price action in recent weeks. The April 2 Liberation Day announcement arrives at a time when digital asset traders already face headwinds from monetary policy shifts and a slowing global economy. Krüger believes that if the tariffs come in softer than expected, markets would rally fast and furiously. On the other hand, a maximalist tariff approach could deliver a significant shock, potentially denting cryptocurrencies. At press time, the total crypto market cap stood at $2.81 trillion. Featured image from iStock, chart from TradingView.com
US President Trumps outspoken acceptance of near-term economic hardship has placed risk assetsincluding Bitcoin (BTC) and the broader crypto marketunder mounting pressure. According to a thread by The Kobeissi Letter on X, President Trumps strategy revolves around tolerating significant short term pain in order to drive down inflation and facilitate the refinancing of over $9 trillion in US debt. Will Crypto Survive Trumps ‘Short-Term Pain’ Strategy? The impact on cryptocurrencies has been immediate and pronounced. While US equities have shed an estimated $5 trillion in market value this year, digital assets have also suffered steep losses. Since President Trumps inauguration on January 21, Bitcoin (BTC) has declined by approximately -23%, Ethereum (ETH) has tumbled by roughly -43% and the broader crypto market has experienced even more dramatic price drops. Related Reading: Crypto Bull Run Isnt OverIts Just Changing, Says Analyst Although high volatility is nothing new in crypto, the synchronized downturn suggests that crypto assets are not immune to macroeconomic forces. The Kobeissi Letter adds, Based on our research, President Trump made this conclusion BEFORE inauguration. However, he began formally articulating it on March 6th. Below is the headline that destroyed investor confidence in 2025. President Trump is no longer the stock markets President (for now). The Kobeissi Letter points to March 9 as the date President Trump further confirmed his stance by noting that America is in a period of transition and that it will take a little time, implying a willingness to tolerate near-term market turbulence. During this period, Commerce Secretary Lutnicks statement on March 6Stock market not driving outcomes for this adminwas followed by Treasury Secretary Bessents remark, Not concerned about a little volatility. Although The Kobeissi Letters analysis notes that the administrations viewpoint solidified before inauguration, it cites President Trumps urgent focus on the year 2025, when $9.2 trillion in US debt will either mature or need to be refinanced. The thread states, First, as we have previously noted, the US is facing a massive refinancing task. In 2025, $9.2 TRILLION of US debt will either mature or need to be refinanced. The quickest way to LOWER rates ahead of this colossal refinancing would be a recession. Related Reading: Economic Turmoil: Crypto Market Loses 25% Of Value As Recession Worries Mount Beyond debt concerns, The Kobeissi Letter also highlights the administrations drive to reduce oil prices and the US trade deficit as part of the same economic calculation. Since President Trump took office, oil has fallen by over 20%. Furthermore, a clearly defined part of President Trumps strategy has been to LOWER oil prices. Oil prices are down 20%+ since Trump took office. This morning, Citigroup said oil prices falling to $53 would lower inflation to 2%. What would lower oil prices? A recession. Meanwhile, the administrations extensive use of tariffs, which The Kobeissi Letter describes as levying tariffs on almost ALL US trade partners, is chipping away at GDP growth estimates, further hinting that a deliberate slowdown is in motion. The Kobeissi Letter also notes, On top of this, DOGE and Trump are attempting to cut TONS of government jobs. These are the same jobs that have accounted for much of the recent job growth in the US. Government jobs have risen by 2 million over the last 4.5 years. Cutting these jobs will spur a recession. DOGE leader Elon Musk appears resigned to short-term declines. Even after Tesla (TSLA) recorded its seventh-largest historical drop on March 10, Musk posted that It will be fine long-term. For crypto traders and investors, the short term pain scenario by Trump is currently dictating the price action. The question, the analysts from The Kobeissi Letter posit, is whether this will lead to a more favorable economic landscape in the long run. Is the short term pain worth the long term gain in President Trumps economic strategy?. At press time, the BTC price remained under heavy downward pressure and traded at $82,000. Featured image from Shutterstock, chart from TradingView.com
Ripples XRP is experiencing intense selling praessure, dropping 18% over the past week as the broader cryptocurrency market turns bearish. This decline comes amid increasing global financial instability, fueled by newly imposed U.S. tariffs under President Donald Trumps latest executive order. U.S. Tariffs Shake Markets, Adding to XRPs Decline On February 1, Trump signed an […]
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