Fake Tariff News Shakes Markets: Bitcoin’s Chaotic Dance with Wall Street

by

Ah, the delightful world of financial theatre! A false whisper about Trump halting his tariff feud with China sent tremors through the US stock market, much like a poorly timed sneeze in a silent room. And, as if on cue, the Bitcoin market mirrored Wall Street’s dazzling, yet utterly absurd, waltz. Let’s dissect this delicious nonsense, shall we? 😏

US Market Swing: What Triggered This Comedy of Errors

It was precisely 10:15 AM (UTC-4) on April 7 when a fabricated report surfaced, claiming that President Trump was about to hit the ‘pause’ button on his tariff brawl with China for 90 whole days. Just as expected, the market soared to the ridiculous heights of $5,249.28 on the S&P 500. Between 9:30 AM and 10:30 AM (UTC-4), the S&P grew by over 3.36%. The drama was real, folks. 😂

And, in perfect synchrony, Bitcoin followed the same script, with the price briefly rocketing above $81,251. Between 9:30 AM and 10:30 AM (UTC-4), Bitcoin surged by at least 2.79%. What a plot twist! 🤑

How the Market Reacted to the White House’s ‘Oops’ Moment

But, of course, reality crashed the party. The White House, like an angry parent at a toddler’s tea party, swiftly condemned the fake news. “False!” they declared, ruining the fun. By 11 AM (UTC-4), the S&P 500’s chart became a sea of red – from $5,076.52 to $4,956.34, in a span of thirty minutes. Oops. 🤦‍♂️

Bitcoin, never one to be outdone, dropped too, sliding from $79,025.10 to $78,016.40. Oh, what a rollercoaster ride! 🎢

The LESSON investors learned today:

At 10:15 AM ET, US stocks swung $7 TRILLION in 30 minutes on a “fake” tariff deal headline.

While the move was undone, we obtained KEY information about the current state of the market.

Here’s what you need to know.

(a thread)

— The Kobeissi Letter (@KobeissiLetter) April 7, 2025

Why the Market Rebounded Despite the Raging Storm

Yet, by the close of April 7, the S&P had recovered at least 4.67%, climbing 226.08 points above the lowest dip of the day. It’s like a fighter who gets knocked out, only to pop back up for a victory lap. 🏆

Bitcoin, too, managed to scrape together a 0.91% gain, ending the day 6.24% above its lowest plunge – a mere 4,652.13 points higher. Even after a chaotic morning, investors were eager to jump back in. You can practically hear their wallets yelling, “Buy the dip!” 💸

What’s driving this madness? Perhaps it’s the delicious, seductive allure of a rebound. Investors are finding comfort in the belief that every drop is just an opportunity to buy more. Classic. 🙄

Reports suggest that, like March 2020, the oversold conditions are luring cash back into the market faster than a celebrity running from paparazzi. 📸

It appears that sentiment, rather than cold, hard fundamentals, is the star of this show. Don’t you love it when emotions rule over reason? 😈

  • Also Read :
  • Will Bitcoin Price Rise as China’s Yuan Hits 2023 Lows? Here’s the Data
  • ,

What Does This Mean for the Crypto Circus?

This event sheds light on just how closely Bitcoin and the entire crypto market are tied to the whims of macroeconomic sentiment and traditional markets. One fake news headline sent prices into a tizzy, proving that the crypto market is still a sensitive, unpredictable beast. But don’t worry – the quick recovery shows there’s still plenty of interest, especially in times of volatility. As traditional markets jump from one emotion to the next, crypto might just follow along, bringing both risk and reward to the brave. 🏁

Never Miss a Beat in the Crypto World!

Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

Read More

2025-04-08 11:59