😲Trump Did WHAT?! Crypto EXPLODES! 🚀

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Well, bless my socks! The crypto market, that unpredictable beast, seems to have perked up a bit. Bitcoin, bless its volatile heart, is leading the charge, all thanks to Donald Trump’s, shall we say, *interesting* decision to give tech products a free pass on those pesky tariffs he’s been slapping on China and other places. Market folks reckon this is a good thing amidst the ongoing trade war fandango between the US and China. I mean, who knew tariffs could be so exciting? 🤷‍♂️

So, it seems the crypto market has decided to throw a little party 🎉 following Donald Trump’s, ahem, *strategic* move to exempt tech products from the reciprocal tariffs imposed on China and other nations. According to a CNBC report – those folks know their stuff, usually – the US president has decided to be generous with phones, computers, and chips. Apparently, they’re too important to mess with. Or something. 🤔

Bitcoin’s price, that digital chameleon, has apparently surged past the $85,000 mark. I mean, who even has that kind of money lying around? Other altcoins are also getting in on the action, recording some “significant gains.” This is supposedly a bullish development for the market. Translation: things are looking good, at least for now, as it reduces the severity of the tariffs that Trump slapped on almost everyone earlier this month. Honestly, keeping up with this is like trying to herd cats 🐱.

Moreover, this whole shebang represents a big win for the stock market. Companies like Apple, those purveyors of shiny gadgets, are the biggest beneficiaries of this exemption. As such, it’s supposedly normal for the crypto market to rebound alongside, given Bitcoin’s alleged correlation with stocks. It’s all connected, you see! Or not. 🤪

Meanwhile, this move could also mark the beginning of the end of the ongoing trade war brouhaha between the US and China. Or maybe not. As CoinGape reported, China announced a 125% tariff on US imports following the latter’s decision to impose 145% tariffs on Chinese goods. It’s like watching a tennis match, but with more money involved 💰.

Trump already mentioned that he’s looking forward to making a deal with China, which is, of course, *positive* for the market. Bitcoin and altcoins could witness another massive rally once that happens. I’ll believe it when I see it 👀.

In a recent X post (formerly known as Twitter, because why not?), crypto analyst Kevin Capital suggested that the correctional phase could soon be over for the crypto market. He noted that this phase has so far gone according to plan. However, he warned that there is still a lot of work to be done. You know, just to keep us on our toes 🧦.

The analyst believes it’s important for the Bitcoin price to clear the $89,000 level before market participants start feeling all warm and fuzzy. He added that the macro side also needs to line up for things to start looking really good for the market. Because nothing is ever simple, is it? 🤷‍♀️

The macro side looks to be progressing well, apparently, as the Federal Reserve recently revealed plans to provide liquidity if necessary. Meanwhile, the latest CPI and PPI inflation data came in lower than expectations, which could also motivate the Fed to start easing monetary policies. In other words, the grown-ups are trying to fix things. Good luck with that 👍.

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2025-04-12 17:54