Crypto Chaos: Bitcoin’s Tariff Tumble Will Blow Your Mind! 😱

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Alright, here’s the deal: while the regular market’s thrashing out over Trump’s latest tariff kerfuffle (seriously, how many times can this happen?), crypto is just sitting there, cool as a cucumber. Yet, oh boy, Bitcoin took a 2% nosedive on Sunday thanks to the whole US-China tariff drama. I mean, come on!

Tariff Concerns Hit Crypto

So during those oh-so-relaxed Asian trading hours, Bitcoin dipped to $83,482, basically undoing last week’s gains. And Ethereum, along with some of the other cool kids (altcoins), fell below $1,600. It’s all because of worries that new tariffs might mess with Chinese tech – phones, laptops, semiconductors… just a whole lot of drama.

Then Trump pops in on Truth Social like he’s dropping the hottest tweet of the century, saying some electronics got a temporary pass from the 10% tariffs, only to get slapped with a 20% tax for “national security and fentanyl concerns.” I mean, really? Who knew tariffs could be so… creative?

No Tariff Exceptions

Trump wasn’t done: no country gets a free pass for unfair trade practices – especially not China. And Commerce Secretary Lutnick hinted that more electronics tariffs are coming in the next couple of months. Stock markets danced a little jig over the temporary tariff delay, but crypto? It’s the wallflower at this party. 🤷‍♂️

Nasdaq futures ticked up over 1% and the S&P futures by 0.7% early on, but crypto just shrugged it off. Classic crypto, always playing hard to get.

Greg Cipolaro from NYDIG mentioned that markets usually spiral during uncertainty, but somehow crypto has managed to keep its poker face. Last week, traders were all “rising prices here we come!” until global tensions and slowdown in institutional flows into US crypto ETFs crashed the party.

Emergency Fed Rate Cut Hopes Fade

Then there’s the Fed rate cut hope – which evaporated faster than a bad joke. With Trump’s tariff antics pushing inflation worries, if rates stay high, crypto might be in for more pain. Experts warn that once Bitcoin plunges below $81,000, expect a frenzy of selling. Great, just what we needed!

Bitcoin’s playing a weird game: currently at $84,359 and up 9% in the past week, yet down 22.5% from its January peak of over $108,000. Crypto analyst Ali Martinez notes that $86,000 is a key resistance level. A rejection might drag it back to $79,000, but a breakout could catapult it to $97,000. Who comes up with this stuff? 🤔

MANTRA Drops 90%!

Ether is struggling to break past $1,700, hovering around $1,600 all week. XRP is holding its own at $2.13, up a solid 20%, and Solana is trading at $132.37, up more than 30% for the week (despite a 1% dip yesterday). It’s a mixed bag, folks.

And then we have the Mantra token (OM), which took a nosedive of over 90% on Sunday – from nearly $6 to under $0.4, all thanks to what they’re calling “reckless liquidations.” Seriously, centralized exchanges, get it together!

On a slightly less depressing note, the crypto fear and greed index sits at 29, a bit of a lift from last week’s “Extreme Fear” level. So maybe, just maybe, there’s a glimmer of hope here. 🙄

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2025-04-14 09:38