Trump’s Tariffs Send Crypto into Panic Mode: Extreme Fear Grips Market!

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Well, folks, the Crypto Fear and Greed Index has taken a nosedive straight into the abyss of “Extreme Fear,” clocking in at a measly 25. That’s a 19-point drop faster than a cat on a hot tin roof. 🐱🔥

This little financial fiasco comes hot on the heels of President Trump’s latest brainchild, the “Liberation Day” tariffs, announced on Apr. 2. Now, I don’t know about you, but when I hear “Liberation Day,” I think fireworks and parades, not markets trembling like a leaf in a hurricane. 🌪️

Here’s the kicker: China’s getting slapped with a 54% tariff, which is like charging someone double for a cup of coffee because they didn’t say “please.” The EU, Vietnam, Taiwan, India, and Japan aren’t spared either, with tariffs ranging from 20% to 46%. Meanwhile, Canada and Mexico are sitting pretty—for now. But don’t get too cozy, amigos. If Trump decides to yank the 25% duties he’s already got on them, they’ll be joining the tariff party too. 🎉

Oh, and let’s not forget the 25% tariff on all foreign-made cars, set to roll out at midnight on Apr. 4. Trump says it’ll protect American industries and lower prices for consumers. Sure, and I’ve got a bridge in Brooklyn to sell you. 🏙️

Unsurprisingly, the stock market threw a tantrum, with Dow futures dropping over 1,000 points. Crypto markets, never ones to be left out of the drama, followed suit. The total crypto market cap shriveled up by 4% to $2.7 trillion. Bitcoin, that digital gold, spiked to $88,500 before crashing back down to $83,073. Ethereum and Solana didn’t fare much better, dropping 4% and 5.2%, respectively. The sell-off triggered $514 million in liquidations, with $290 million coming from long positions. Ouch. 💸

Arthur Hayes, the co-founder of BitMEX, chimed in on X, saying the market might be “out of the woods” if Bitcoin stays above $76,500 until U.S. tax day on April 15. His advice? Don’t “get chopped up.” Wise words, Arthur. Wise words. 🪓

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2025-04-03 06:06