💥 $BTC dropped nearly 5% after China imposed 84% tariffs on US imports, escalating the trade war. The move follows the US raising tariffs on Chinese goods by 104%, shaking global markets and spurring a risk-off wave.
📉 Stock markets worldwide are bleeding. Japan’s Nikkei fell 4%, while South Korea, Australia, and New Zealand also posted steep losses. The S&P 500 reversed gains to fall 1.6%, with the Nasdaq down 2.1%. BTC, tightly correlated with tech stocks, took a hit.
💣 Over $447M in crypto liquidations were recorded, with more than 140K traders wiped out in 24 hours. For the first time in weeks, Bitcoin's long-short ratio flipped—shorts now make up 55% of open interest, signaling strong bearish sentiment.
🛑 Investors are de-risking fast, fearing deeper losses as trade tensions escalate. With no diplomatic progress in sight, China’s retaliatory tariffs take effect April 10, amplifying uncertainty across all markets.
🧠 QCP analysts say BTC is consolidating near $75K, but may drop further if equities slide. ETH, underperforming, is nearing $1,400 again. Still, some see opportunity in the panic.
🗣️ “Bitcoin has survived worse—Mt. Gox, the Covid crash, China bans. Now you’re scared of tariffs?” said Quinten Francois on X.
📊 The Fear & Greed Index is flashing extreme fear, reflecting the market’s growing unease.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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