After US markets enjoyed a short gasp of relief on Wednesday, the charts grimming turned out again on Thursday as the focus switched to a potential major US -China conflict.
Bitcoin (BTC), which rose more than 8% the day before, dipped approx. 4% under $ 80,000 again on Thursday. The fall in Bitcoin came along with a renewed leap in Nasdaq, which was lower by 5.5% after yesterday’s 12% rally, as dealers assess US President Donald Trump’s next step in his customs policy.
Crypto stocks also got a hit. Microstratey (MSTR) was down to 11.2%, and Coinbase (Coin) and Marathon Digital (Mara) fell 8.1%and 9.3%respectively.
Already sharply lower on the session, the stock escalated after a tweet circulated, saying an official in the White House confirmed that the total tariff rate in China is now at 145%, not 125%, as President Trump said yesterday.
The executive order describes that the “mutual” duty rose from 84% to 125% overnight. When combined with the existing 20% tarif on fentanyl -related items, the total rate of 145%.
China said in an attempt to strike over Trump’s original tariffs that it would reduce the import of US films, which intensified the trade war between the two countries.
Meanwhile, gold rises 3% and hits a new height of all the time of $ 3,168. The DXY index, which measures the US dollar against a basket of foreign currencies, has fallen below 101, which effectively turned its entire rally in November and now down 9% from the January heights.
Politically charged environment
“The macro views are anything but certain,” said Kirill Kretov, senior expert at Crypto Trading Automation Platform Coinpanel. “This is a politically charged environment where headlines have the power to reshape mood almost immediately.”
“An important swing factor now is trade policy,” Kretov added with the Trump administration’s ever-changing customs policies that add concern for inflation. “Any escalation on this front would complicate Fed’s decision -making and potentially derail the current market narrative,” he said.
