Cryptocurrency prices dropped after the US stock future market fell sharply on April 6 as the Trump administration doubled on its global tariff strategy.
The Trump administration targeted all countries with a 10 % tariff starting on April 5, slapped at some higher rates, including China, including China 34 %, 20 % in the European Union, and Japan 24 %.
In the last 24 hours, Bitcoin (BTC) fell more than 6 % and was trading at about $ 77,883. Meanwhile, according to Congico, Ether (ETH) had reduced the same time frame by more than 12 % and was trading at $ 1,575. The total crypto market cap dropped from 8 % to $ 2.5 trillion.
Since then, there have been some losses in prices. BitCoin has recovered $ 1.4 % to $ 78,500. Meanwhile, Ether recovered $ 1,594.
Source: Autism Capital
At the same time, the crypto -fear and greedy index, which measures market sentiments for Bitcoin and other crypto currencies, returned a score of 23 in his latest update on April 7, which is considered to be extremely fear.
In a statement, Finance, head of the Australian Crypto Exchange BTC markets, Charlie Sherry said the shortage was not surprising because on Sunday, the global market is usually more liquid.
“As a result, some major sales can have an inappropriate impact, which can reduce prices rapidly,” he said.
“There is no mystery behind the trigger: President Trump’s recent tariff talk has shocked macro markets, global trade relations are suddenly looking uncertain.”
However, some traders predict that BitCoin’s breakout can be around the corner. Butt Max co -founder Arthur Hess has also speculated that when the revenue is shaking the markets, the Bitcoin rally may result.
The US stock future market has also opened.
According to Google Finance, the Futures associated with S&P 500 fell about 4 %. Meanwhile, Tech Heavy Nes Deck lost, and Dow Jones industrial average futures sank more than 8 %.
In a post on April 6, the commercial resource Kobisi said in the X -6 post that the US stock market focus on the “Beer Market Territory” plays the S&P 500 futures, adding that the US stock market has now been erased by an average $ 400 billion per commercial day in the last 32 days.
Source: Kobisi letter
“If it is the future of tonight,” this “could be” the worst three -day move for American stocks, “said Tom Donleyvi, a managing partner of the venture capital firm MV Global.
The Trump administration doubles at prices
Crypto -friendly billionaire investor Bill Akman has speculated that US President Donald Trump could postpone taxes to allow countries to make counters office or deals.
In a April 6 statement about its social media platform, the truth social social, Trump doubled at prices, saying that the United States has a large financial loss with China, the European Union and many others, which will solve the Levies.
Related: Trump prices prices as ‘National Emergency’
“The only way to fix this problem is with prices, which are now bringing tens of billions of dollars in the United States, they are already in effect, and is a beautiful thing to see,” he said.
He also told reporters in Air Force One that he was not deliberately trying to sell in the market, but he added, “Sometimes you have to take medicines to fix something.”
At the same time, Kevin Hast, director of the US National Economic Council, said in an interview with the ABC’s program on April 6 that more than 50 countries have reached the president to discuss fresh trade deals.
“They are doing this because they think they tolerate a lot of taxes,” he said.
US Treasury Secretary Scott Basant called on US trade partners in an interview with Bloomberg on April 2 against corruption measures, and argued that if they do not try to add more Levies in response, it is the “high -ranking number”.
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