Trump Tariffs, Bitcoin, and the Crypto Market: Why the Market Crashed

#Bitcoin❗ and the crypto market were briefly in turmoil in the last few hours after a fresh wave of pessimistic sentiment turned all large-market cap cryptos crimson.

This wave of red followed former President #DonaldTrump's announcement of one of the greatest tariff measures in U.S. history.

$TRUMP announced a proposal to slap tariffs on 185 nations during the “Make America Wealthy Again” rally, spooking global financial markets, particularly stocks and digital assets.

Real Tariff Shock: A Poster-Started Chain Reaction

Bitcoin fell to $82,277 in the previous 24 hours, trimming the crypto sector by 2%. At the crux of the tempest was Donald Trump's "reciprocal tariffs," which go beyond the 10% the Wall Street Journal reported. Trump reiterated that the tariffs were reciprocal, changing the narrative.

This would imply the U.S. would tax American products at half the rate other nations do. For nations like China, which Trump said charged 67%, the U.S. would impose a 34% duty. The EU suggested a 20% tariff next.

In just 15 minutes, S&P 500 futures lost $2 trillion in market value after the news. The image Trump displayed at 4:26 PM ET shook market sentiment. Just seconds before, S&P futures rose 2%. At 4:42 PM ET, they fell 4%. Interestingly, Nasdaq 100 futures are also expected to fall over 900 points.

Bitcoin responded as quickly as conventional markets. Bitcoin fell sharply alongside tech stocks as risk-off sentiment spread worldwide. The Nasdaq and S&P 500 fall immediately affected digital assets due to the rising link between Bitcoin and U.S. tech shares.

#Tariff Implementation Timeline and Investor Impact

Trump said that the 10% baseline tariff would take effect on April 5 and additional retaliatory duties on April 9. Due to USMCA compliance, medicines, semiconductors, copper, and timber are exempt, while Canada and Mexico are exempt from additional duties. Russia was excluded from this tariff round for now.

#TrumpTariffs #VoteToListOnBinanc #VoteToListOnBinanc e $BTC $XRP