Bitcoin Holds Steady Above $82,000 Amid U.S.-China Trade War Escalation
Despite heightened geopolitical tensions and a sharp plunge in the U.S. dollar, Bitcoin demonstrates resilience as it trades marginally lower, while the broader crypto market remains stable.
Crypto Daybook Americas: Bitcoin Defies Peak Fear as U.S. Dollar Plunges Over Trump’s China Trade War
As the trade war between the U.S. and China escalates, with China raising tariffs on the U.S. from 84% to 125% this morning, Bitcoin (BTC) and the wider cryptocurrency market appear relatively unfazed. Bitcoin is down a mere 0.15% over the last 24 hours and is now trading above $82,000. The wider crypto market, measured by the CoinDesk 20 (CD20) index, is stable with similar performance. In contrast, gold rose to a new $3,227.5 record, making Tether’s XAUT the top-performing digital asset. Meanwhile, the U.S. Dollar Index (DXY) dropped below 100.
Crypto Rebound Likely as Trump Tariffs May Bring Down Inflation
The ongoing U.S.-China trade war is likely to bring down inflation in the U.S. economy, offering bullish cues to risk assets, including Bitcoin (BTC). President Donald Trump imposed tariffs on China, Canada, and Mexico in February 2018, escalating trade tensions. Retaliatory tariffs have been imposed by both the U.S. and China, exceeding 100%. Tariffs increase the cost of imported goods, potentially leading to higher prices in a consumption-driven economy like the U.S. Since the trade war began, markets have been concerned about the impact of tariffs on inflation and the overall economy, which could indirectly affect the cryptocurrency market.
S&P 500 Becoming Riskier Than Bitcoin
The financial landscape is undergoing significant changes. Bitcoin, often criticized for its volatility, is currently experiencing a phase of relative stability. In contrast, the S&P 500, a symbol of traditional finance, is exhibiting speculative behavior and surging in volatility, rivaling the unpredictability of memecoins. The recent drop of the S&P 500 is not just a simple correction but a chaotic fluctuation, with significant losses since February. This role reversal questions certainties and redraws the lines between risk and safety in the financial markets.
Lomond School Becomes First U.K. School to Accept Bitcoin Payments
Lomond School in Helensburgh, Scotland has announced that parents can pay tuition fees in Bitcoin starting from Autumn. This makes it the first school in the U.K. to accept Bitcoin payments. The school has partnered with Bitcoin payment provider Musqet and FCA-regulated virtual asset service and fiat wallet CoinCorner to facilitate this. Initially, the school will convert all Bitcoin payments directly into British pound sterling to mitigate any currency risks.
Peter Schiff Predicts Bitcoin’s End Amid Market Turmoil
Peter Schiff, a long-time critic of Bitcoin (BTC), has reiterated his belief that the cryptocurrency will collapse in the face of a real economic crisis. On Apr. 11, 2025, he tweeted that Bitcoin was born out of the financial crisis of 2008 but ironically, the financial crisis of 2025 will kill it. Meanwhile, a Bloomberg analyst observes that the S&P is now mirroring Bitcoin’s chaos, raising questions about the true state of the cryptocurrency market.
