Bitcoin (BTC) has been on a rollercoaster ride as investors react to President Trump’s tariffs on U.S. trading partners, sparking panic in stock markets. Surprisingly, the cryptocurrency has shown some resilience.
However, as trading in traditional markets closed over the weekend, apprehensive investors sought refuge in the 24/7 cryptocurrency markets, leading to a downward slide for Bitcoin. On Sunday afternoon, Bitcoin hovered around $79,000, dipping nearly 5% in just a day. As stock index futures hinted at a rough start for the new trading week—Nasdaq 100 down by 5% and S&P 500 by 4.5%—Bitcoin sank further, plummeting to about $78,400.
Other cryptocurrencies weren’t spared either. Ether (ETH) saw an even sharper decline, falling 11% to $1,590, while Solana (SOL) dropped by 10% to $107.
The phrase “Black Monday” has been trending on X, invoking memories of the stock market crash on October 19, 1987, when the Dow Jones plummeted about 22% in a single day. This event was triggered by fears of a currency war, notably voiced by then-Treasury Secretary James Baker.
Bill Ackman, a hedge fund manager, expressed his views on social media, indicating the dire consequences of continued tariff aggression. He stated, “If we start economic conflict with every country, markets will stagnate and consumer spending will drop.” He further urged President Trump to reconsider his strategies to avoid a deep economic downturn.
Current figures show that the 10-year Treasury yield has dropped by 14 basis points, now sitting at 3.85%. The bond market typically reacts to economic uncertainty, indicating investor skepticism about future growth.
As the investment landscape shifts and cryptos face volatility, it’s crucial for investors to stay informed and consider the broader economic implications. Historically, moments of financial panic often lead to long-lasting changes in market behavior and regulatory scrutiny, reinforcing the importance of proactive risk management in investment strategies.
For more insights into the cryptocurrency market and economic trends, you can check CoinDesk.
Check out this related article: How Trump’s Tariffs Could Transform Your Shopping List: What Every American Needs to Know
Source linkbitcoin,breaking-news
