Well, bless my soul! The crypto market’s lookin’ as droopy as a hound dog in August 😩, all thanks to President Donald Trump, who’s decided to slap a tariff on China bigger than a Mississippi mud pie 🥧! Seems this here trade war is causin’ more trouble than a skunk at a lawn party, and folks are losin’ their shirts in the digital dust. Bitcoin‘s takin’ a tumble, and them other fancy crypto-doodads like ETH, XRP, SOL, DOGE, and Cardano are slippin’ faster than a greased pig at a county fair 🐷.
Trump’s Tariff on China: Now That’s What I Call a Pickle!
The crypto market’s got the blues today, thanks to President Trump and his fondness for pokin’ China with a tariff stick. He’s gone and slapped a 245% tariff on a whole heap of imports, makin’ things hotter than a jalapeño in July 🌶️. The White House says it’s all about national security and keepin’ America’s economy strong, but it sure is makin’ investors sweat more than a preacher in a poker game 🙏.
Now, China ain’t takin’ this lyin’ down, mind you. They’re facin’ tariffs up to 245% ’cause of their “retaliatory actions” and lack of cooperation. But this ain’t the first rodeo 🤠. This tariff saga’s been draggin’ on for weeks, makin’ the crypto market as jumpy as a cat in a room full of rockin’ chairs 🪑.
Trump’s Tariff on China: A Real Humdinger!
It all started with a 20% levy, followed by a 34% hike on April 2nd. Then, Trump raised the ante again, reachin’ 104%. China fired back with an 84% tariff on US goods. It’s like watchin’ two mules kickin’ each other, ain’t it? 🐴
Trump then bumped the US tariff to 125%, but he was kind enough to leave out some tech products from China, which cheered folks up a bit. But China then upped their tariffs to 125% too. Now we’re at 245%! Goodness gracious! 🤯
The White House is sayin’ all this is necessary to protect America’s defense, tech, and infrastructure. Reuters says China’s sendin’ over $400 billion worth of goods to the US every year — more than anyone else. Seems like this tariff business is spillin’ over into the financial sector, and the crypto market’s gettin’ caught in the crossfire.
How’s Crypto Farin’ These Days?
The global crypto market’s lost more than 2.3%, droppin’ down to $2.63 trillion. And folks ain’t tradin’ as much, with volume fallin’ 6% to $73.89 billion. The fear and greed index is showin’ a “Fear” momentum in the market. Sounds like everyone’s hidin’ under the porch with the chickens 🐔.
Bitcoin’s down nearly 2.5% to $83,368.76, and ETH’s lost about 5%, sittin’ at $1,566. XRP’s down nearly 4% to $2.04, and SOL’s slippin’ more than 3% to $124.89.
Cardano’s lookin’ sickly, down nearly 7% to $0.6032. And them meme coins? DOGE is down around 5% to $0.1528, and SHIB‘s lost around 3% to $0.00001160. Looks like even the doges are feelin’ the blues 😢.
Bitcoin Whale’s Ditchin’ the Ship!
The recent slump in BTC price comes as Bitcoin whales seem to be losin’ faith, what with this trade war goin’ on. Speculations are flyin’ that they’re takin’ their profits and runnin’, showin’ they ain’t so keen on risk anymore. This US vs China showdown is weighin’ heavy on investors, causin’ a whole lotta sellin’.
Analyst Ali Martinez says these whales are sellin’ off their crypto. In a recent X post, Martinez said “Whales have been taking profits during the recent rally.” According to him, the whales have offloaded more than 29,000 BTC since April 9. Looks like they’re headin’ for the hills with their pockets full! 🏃♂️💨
Read More
- Who Is Abby on THE LAST OF US Season 2? (And What Does She Want with Joel)
- DEXE/USD
- Summoners War Tier List – The Best Monsters to Recruit in 2025
- DC: Dark Legion The Bleed & Hypertime Tracker Schedule
- All Hidden Achievements in Atomfall: How to Unlock Every Secret Milestone
- ‘Did Not Expect To See That Fiery Bully’: Hell’s Kitchen Alums Recall ‘sharp-tongued’ Gordon Ramsey’s Behavior On Set
- Yellowstone 1994 Spin-off: Latest Updates & Everything We Know So Far
- ‘I’m So Brat Now’: Halle Berry Reveals If She Would Consider Reprising Her Catwoman Character Again
- Fact Check: Did Lady Gaga Mock Katy Perry’s Space Trip? X Post Saying ‘I’ve Had Farts Longer Than That’ Sparks Scrutiny
- To Be Hero X: Everything You Need To Know About The Upcoming Anime
2025-04-16 12:47