Trump’s tariff announcement shakes markets: Stocks and cryptocurrencies plummet
Former U.S. President Donald Trump’s latest statement on tariffs has created a shock wave through traditional and crypto markets. Trump firmly announced:
“There is no room for negotiations related to tariffs in Mexico and Canada.”
As a result, the stock market experienced a sharp decline:
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Dow Jones Jones: -1.7%
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S&P 500: -2%
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Nasdaq: -2.6%
Meanwhile, the cryptocurrency market has taken a bigger blow:
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Bitcoin (BTC): -8%
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Ethereum (ETH), Solana (Sol), XRP, Cardano (ADA): -14% to -16%
It is worth noting that even the Mexican peso and Canadian dollar fell after the announcement.
The turmoil does not stop there. Trump also revealed Starting from April 2, tariffs on agricultural imports will take effect. More importantly, he swears The double tariffs on Chinese imports range from 10% to 20%.
Markets and Bitcoin Outlook
From a technical standpoint, Bitcoin fills the CME gap and closes weekly candles at key levels, but has not yet formed an uptrend. Based on current market sentiment, BTC may test $76K- $77K Range Before confirming its next move. According to NFTE analysis, the current price action appears to be a relief rally 91k -96k scope. However, the main short positions of administrators are still in place 96.6kwait for the reaction and then fall again.
Source: TradingView
BlackRock continues to deposit BTC and ETH on Coinbase
BlackRock once again transferred a large amount of cryptocurrencies to a common basis and deposited 1,818 BTC (approximately $160 million) and 7,800 ETH (~$16 million).
This marks The fifth consecutive day Transfer funds to BlackRock on the exchange. It is worth noting that over the past four days, each deposit has been subsequently sold in a net manner, totaling Net outflow of $930 million.
Moreover, BlackRock’s Bitcoin ETF has been recorded 6 consecutive net outflow meetings,total Total withdrawal of ~$1.3B – Clear signs that sales pressure remains dominant.
