Bitcoin Remains Resilient During U.S. Stock Market Turmoil
As global financial markets experience volatility, Bitcoin stands as a beacon of resilience.
Bitcoin Stands Firm Amid U.S. Stock Market Crash
The U.S. stock market experienced a significant plunge on Thursday, with the S&P 500 closing nearly 5% lower and the Nasdaq dropping almost 6%. This was a reaction to President Trump’s announcement of reciprocal tariffs. In contrast, Bitcoin (BTC) was up 0.5% during the market crash and had climbed around 1.5% early on Friday. The plunge in the S&P 500 was the worst since June 2020, when fears of a second wave of COVID hit the market. Despite the turmoil in traditional markets, Bitcoin remained relatively stable, highlighting its potential as a safe haven asset.
Nasdaq Composite on Track for Biggest One-Day Drop Since 2020; Bitcoin Slips
The Nasdaq Composite is poised for its biggest one-day percentage drop since March 2020, impacting stock and crypto markets. Bitcoin slipped below the $82,000 support level amid the aftermath of U.S. President Donald Trump’s Liberation Day and reciprocal tariffs impacting trade partners. Crypto traders are reeling from the market volatility, raising questions about Bitcoin’s (BTC) recovery and the sector’s future outlook.
Bitcoin Price Bounce Above $84,000 Boosts Sentiment Slightly
Bitcoin briefly regained $84,000 today amid a broader wipeout of global equities and tech stocks alongside U.S. tariff fears. According to CoinGecko data, the Bitcoin price has lost 0.8% in the past 24 hours and is currently trading at $82,987.32. It’s down 6.5% month-on-month and approximately 23% from its all-time high of over $109,000 on December 5, 2021. Market prediction platform Myriad currently has 74% of users indicating they don’t think Bitcoin will manage to close the gap to $84,000 again soon.
US Tariffs Stir Financial Market, Affecting Bitcoin Price
President Donald Trump’s new tariffs have caused significant搅动 in the financial market, particularly amid current sideways trading.Barely hours after the announcement, Bitcoin (BTC) and other assets faced setbacks, lowering trader confidence. Most digital asset experts predict that the tariffs could tighten inflows and restrict chances of a broader recovery. Since the tariffs were imposed, the total crypto market cap has slipped by 3.8%. The new tariffs are expected to bring a new phase of uncertainty among traders, with the Philly Fed Business Outlook survey showing similarities to economic conditions in 2002, 2008, and 2022.
Crypto Daybook Americas: Bitcoin Reverses Gains Due to China Tariff Retaliation
Major coins reversed early gains after Beijing stepped up trade tensions by announcing retaliatory tariffs following President Donald Trump’s decision to impose additional levies on China and other nations. Bitcoin dropped to $83,000 from $84,600, though the downside appeared limited. Markets dislike uncertainty, and the anticipation of a looming threat often creates more anxiety and fear than the actual realization of that threat. Since Trump took office, markets have been wrestling with the threat of tariffs and a global trade war, damping investor risk appetite and causing the BTC price to tumble from a record high over $109,000 to below $80,000 last month.
