- Bitcoin slipped back under $80K as market fears flared over escalating U.S.-China tariff tensions.
- A surprise tariff hike to 145% on Chinese imports sent crypto stocks and the Nasdaq tumbling hard.
- Gold hit a record high while the U.S. dollar slid, reflecting deep investor anxiety over the macro outlook.
After a brief moment of calm on Wednesday, U.S. markets went right back into chaos mode Thursday — and the charts? Yeah, they got real ugly.
Bitcoin, which had bounced more than 8% yesterday, slipped back under $80K, shedding around 4% as traders got jittery again. The Nasdaq wasn’t spared either, diving 5.5% after Wednesday’s wild 12% surge. Why? Eyes are back on President Trump and his next move in what’s becoming a messy trade slugfest with China.
Crypto stocks got slammed too. MicroStrategy (MSTR) tumbled over 11%, Coinbase (COIN) slid 8.1%, and Marathon Digital (MARA) dropped 9.3%. So yeah, not a great day for the crypto-linked crew.
Fueling the panic was a tweet — yep, a tweet — suggesting that the real tariff rate on Chinese imports wasn’t 125% like Trump said, but actually 145%. According to the fine print of the executive order, the so-called “reciprocal” tariffs jumped overnight from 84% to 125%. When you tack on the extra 20% from fentanyl-related imports, you land at 145%. That’s… steep.
China didn’t take it sitting down either. Their response? Slashing American movie imports — an economic jab with some cultural sting. So, the trade fight’s not just about goods anymore.
Meanwhile, gold’s having a moment — up 3%, punching through a fresh all-time high at $3,168. The U.S. dollar? Not so much. The DXY index sank below 101, unwinding its entire November rally and now down 9% since January highs. That’s a sharp turn for what’s supposed to be a “safe” play.
Macro Mayhem in Full Swing
“This macro environment? Totally unstable,” said Kirill Kretov, senior expert over at CoinPanel. “It’s political whiplash. Headlines are steering the whole market right now.”
He pointed to trade policy as the swing factor. “If Trump escalates this thing again, the Fed’s got a real mess on its hands. Rate cuts? That gets way more complicated.”
