#BTC #Tarrifimpact
Bitcoin Falls Below $80K as U.S.-China Tariff Tensions Spike; Nasdaq Drops 5%
Bitcoin and tech stocks plunged Thursday following a sharp escalation in U.S.-China trade tensions. A White House clarification raised the effective tariff rate on Chinese goods to 145%, sparking market jitters. The Nasdaq fell 5.5%, erasing much of Wednesday’s gains, while Bitcoin dropped 4% to $79,000 after rallying 8% a day earlier.
Crypto stocks also suffered: MicroStrategy fell 11.2%, Coinbase 8.1%, and Marathon Digital 9.3%. Meanwhile, gold surged 3% to a record $3,168 as investors sought safe havens. The U.S. dollar weakened, with the DXY index falling below 101, down 9% from January highs.
Analysts warn that the volatile geopolitical climate and shifting trade policies could complicate the Federal Reserve’s inflation strategy and shake market confidence further.