Bitcoin slid to its $110,000 support as the broader crypto market shed $80 billion following the Federal Reserve’s interest-rate cut and a new U.S.-China trade agreement.
The U.S. government has delayed its deadline to set tariffs to August 1, while Donald Trump threatened countries aligning with BRICS with extra levies.
Weaker dollar sparks optimism for risk assets as inflation eases.
The crypto market wobbled after Trump accused China of violating a tariff truce.
Tariff reversal fuels bond sell-off as U.S.-China tensions escalate across tech and education sectors.
The president Friday morning threatened an imminent 50% tariff on all EU imports as well as a 25% levy on imported Apple iPhones.
The response of bitcoin prices to the destabilizing announcement of U.S. tariffs in April suggests the digital asset may be achieving one of its fundamental promises, says Hashdex’s Gerry O’Shea.
Treasury Secretary Scott Bessent is headed to Switzerland for talks with Chinese representatives.
Markets have been generally range-bound in the past week, setting the course for what could be an explosive move higher, some say.
Tech stock futures fell as the U.S. imposed tariffs of up to 245% on Chinese imports while gold hit a record high and Nvidia plunged on export control fallout.
U.S. stocks, including Strategy (MSTR) and MARA Holdings, rose on possible progress on trade talks with the EU.
Strategy paused BTC buys as bitcoin tumbled in Q1, but Saylor signaled additional purchases may be coming.
Electronics spared from recent tariffs will face new duties aimed at reshoring semiconductor production, Lutnick said.
Tariffs contribute to stagflation, and this benefits scarce assets such as gold and bitcoin, the report said.
The withdrawals took place even as prices zoomed higher alongside a risk-reset on Wall Street.
President Trump said he authorized a 90-day pause on tariffs on countries that haven't retaliated against the U.S.
"The EU considers US tariffs unjustified and damaging, causing economic harm to both sides, as well as the global economy," the European Commission said
Beijing responds to Washington’s steep tariff hike with equal force, intensifying trade tensions and shaking global markets.
“For investors, the short-term outlook calls for caution, while a further drop to $70,000–$75,000 for Bitcoin is possible if trade tensions escalate,” one trader said.
Previous crises saw the world's largest cryptocurrency tumble 50-70%, the report said.
Frustrated bitcoin bulls might want to zoom out as stocks gain across the globe following the days-long tariff-induced rout.
One of the most volatile trading sessions since March 2020 exposed deep cracks in the global financial system—foreign selling of U.S. Treasury notes is questioned.
The White House denied a report that it was mulling a 90-day delay on imposition of tariffs.