US-China Tariff Talk Sends Crypto into Orbit (Again!)

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Well, here we go again. Bitcoin and the stock markets just did their usual “let’s pretend everything’s fine” dance, all thanks to Treasury Secretary Scott Bessent’s *alleged* off-hand comment about easing tariffs with China. Oh, and it’s the second time this month that these rumors have made the markets do a little happy jig. Let’s all collectively sigh and roll our eyes.

But, hold on, TradFi investors—don’t get too cozy. Once the White House didn’t immediately confirm these tariff-sweetheart rumors, the traditional market hype deflated like a sad balloon. Bitcoin, however, just stood there, cool as ever. Is it possible that Bitcoin is saying, “Yeah, I’m done with you, stock market,” and quietly walking away into the sunset? Only time will tell.

Bessent’s Tariff Thoughts—Sigh of Relief or Sigh of Despair?

Ah, tariffs. The gift that keeps on giving… mostly chaos. Trump’s tariffs are like that annoying relative who refuses to leave after the party’s over. And let’s be honest, no one really knows what’s going on. Two weeks ago, there was a rumor about a tariff pause. Markets surged. Then the pause was *actually* announced. Markets surged again. Now, today, we have Bessent’s thoughts.

According to a Bloomberg report, Bessent allegedly believes the US is going to chill out on the tariffs with China. Big shocker, right? I mean, it’s obvious that the current “let’s slap tariffs on everything” policy is unsustainable. He allegedly said, “No one thinks the current status quo is sustainable at 145 and 125 [percent]. So, I think, like, we’re gonna de-escalate soon. And maybe, just maybe, markets can take a deep breath.” Oh, Bessent, bless your heart, but are we sure this isn’t just wishful thinking?

“The next steps with China are, no one thinks the current status quo is sustainable at 145 and 125 [percent]. So I would posit that over the very near future, there will be a de-escalation. And I think that that should give the world, the markets, a sigh of relief… We have an embargo now, on both sides, right?”

Of course, once this rumor made its rounds, Bitcoin decided it was time to rise and shine, just like those happy stock market numbers. The Dow jumped up by 1,000 points (calm down, it’s just a number), the S&P 500 grew by 500, and Nasdaq took a 3% hop. I mean, who needs logic when you’ve got a rumor to drive the markets?

Bessent, who’s been more crypto-friendly than most of the gang (looking at you, Peter Navarro and Howard Lutnick), may not have the authority to actually change anything, though. He’s just like the guy at the party who gives you advice but isn’t the one footing the bill. After a brief market cheer, the traditional stocks started falling again. Classic.

Now, here’s the kicker. A couple of weeks ago, the stock market plunged when the White House firmly denied the tariff pause rumors. Today, however, no one in the White House felt the need to comment on Bessent’s little tariff fantasy. Yet, despite the radio silence, the traditional markets fell, and Bitcoin just… chilled above $91,000 like, “I’m fine, thanks.” The overall crypto market cap hit $2.96 trillion—no biggie.

So, what do we take away from this mess? Is Bitcoin *really* recession-proof, or is it just getting really good at pretending it doesn’t care? Time will tell, but if Bitcoin keeps rising when the news is good and stays steady when things go south, then maybe it’s the financial world’s most adorable enigma. But, don’t get too comfy—it’s still under the thumb of a very unpredictable world.

In the meantime, let’s all keep an eye on those tariff rumors and enjoy the ride. Or at least, let’s pretend we know what’s going on.

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2025-04-22 22:51