“Smart traders” picked up more Bitcoin and altcoins last week as retail investors overreacted to US President Trump’s 100% tariff against China, according to onchain analytics platform Santiment.

“Retail’s emotions often dictate that Bitcoin's and altcoins’ prices are about to do the opposite,” Santiment analyst Brian Q said in a blog post on Monday.

The crypto markets crashed on Friday as US President Donald Trump announced stiff tariffs against China. Brian Q said the event was one of four dates in particular this year that drove peak crowd fear.

Other moments included one in April when the first round of global tariffs was announced, then again in June during tensions in the Middle East between Iran, Israel and the US. FUD also dominated in August, as concerns arose that the US Federal Reserve might not cut rates.

“Smart traders scooped up more while the crowd was in panic on each of these dates,” he said.