Bitcoin Drops Like It’s Hot: Nasdaq Follows Suit as Tariff Drama Unfolds!

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So, Here’s the Deal:

  • Bitcoin and tech stocks got a little too cozy on Thursday, tumbling down as investors were all like, “Wait, what was that rally yesterday?” 🤔
  • Then came the late-morning announcement from the White House—surprise! Tariff rates bumped up to 145% from 125%, and poof! Nasdaq went from a mild 4% loss to a dramatic 5.5%. Bitcoin joined the party, sliding back to $79,000 like it just saw an ex. 😵‍💫
  • Meanwhile, gold’s taking a victory lap, hitting a record high while the dollar decided to take a nap, as everyone freaked out about geopolitical risks.💰

Just when we thought we could breathe easy on Wednesday, the charts came back looking like a scene from a horror movie on Thursday. 🎃 Investors turned their focus to a potentially massive tiff with China that could make even a toddler’s tantrum look chill.

After Bitcoin (BTC) strutted its stuff with an 8% rise the day before, it slid about 4% back down, like it realized it wasn’t wearing any pants. As for the Nasdaq, it couldn’t keep its head in the game either, down 5.5% after a showy 12% rally. All eyes are on President Trump as he figures out his next tariff move. Talk about pressure! 😩

Oh, and crypto stocks? They took quite the beating too. MicroStrategy (MSTR) said, “Hold my beer,” and dropped 11.2%. Coinbase (COIN) and Marathon Digital (MARA) felt it too, slipping 8.1% and 9.3%, respectively. Ouch! 😬

As the stock sell-off spiraled down, a tweet popped up confirming that China’s total tariff rate is now at a whopping 145%, making Trump’s earlier number look about as reliable as a horoscope. 🥴

In a bold move, China decided to get back at Trump by reducing imports of American movies. Because who needs Hollywood blockbuster popcorn when you’ve got trade wars? 🍿🎬

Meanwhile, everyone’s favorite shiny rock—gold—jumped 3% to an all-time high of $3,168. And the DXY index, which measures the dollar’s worth against other currencies, apparently got the memo and dropped below 101, reversing its entire November rally like it just hit the rewind button. 📉

Politics, anyone?

“The macro outlook is shaky at best,” says Kirill Kretov, the wise sage from crypto trading automation platform CoinPanel. “This is like a political soap opera where headlines shift the plot every five minutes.” 📺

He added that trade policy is now the star of the show, with President Trump’s flip-flopping tariffs leaving everyone wondering how it’ll all play out. “Any dramatic twist here could send the Fed into a frenzy and totally mess with the current market vibes,” Kretov cautioned. Grab your popcorn, folks! 🍿

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2025-04-10 19:22