EddieJayonCrypto
9 Apr 25
The White House confirmed 104% tariffs against China, impacting the crypto market. Bitcoin fell to $76,000 with $300 million in crypto liquidations. Despite this, Bitcoin’s long positions rose to 54%, signaling optimism. The market faces uncertainty with the tariffs, potentially affecting both tradi...
The White House has confirmed 104% tariffs against China, impacting the crypto market and causing Bitcoin to fall to $76,000 with $300 million in crypto liquidations. Despite this, Bitcoin’s long positions rose to 54%, signaling optimism. There is uncertainty in the markets due to the tariffs, potentially affecting both traditional finance (TradFi) and crypto. Publicly listed crypto companies experienced significant drops, and tomorrow will be critical for tariffs and their impact on the markets, with a question of whether crypto will continue to correlate with the stock market. Trump’s tariffs are about to take effect, and the markets are in a profound moment of uncertainty. After the tariff confirmation, publicly listed crypto companies faced another day of harsh drops, with MicroStrategy’s MSTR slumping over 11%. Additionally, Coinbase, Robinhood, and publicly traded Bitcoin miners all approached a 5% drop. Bitcoin’s long positions have surged to 54%, showing that most traders are betting on BTC to rebound back to a higher price point. Ultimately, tomorrow will be a critical day for tariffs, crypto, and TradFi markets as a whole. It’s probably too late to hold out hope that Trump will decide not to escalate with China. However, it remains to be seen whether the crypto market will continue to correlate with the stock market after the tariffs are live or at-risk assets will reverse course and hedge against potential inflation fears.