Source: Cointelegraph Original: "{title}"
As the Trump administration doubles down on its global tariff strategy, cryptocurrency prices plummeted when U.S. stock index futures opened significantly lower on April 6.
Starting April 5, the Trump administration imposed a 10% tariff on all countries, with some countries facing even higher tariffs, including 34% for China, 20% for the European Union, and 24% for Japan.
Bitcoin (BTC) fell over 6% in the past 24 hours, trading at around $77,883. Meanwhile, Ethereum (ETH) dropped over 12% during the same period, trading at $1,575. According to CoinGecko data, the total market capitalization of cryptocurrencies fell over 8% to $2.5 trillion.
Prices have since recovered some losses. Bitcoin has risen 1.4% to $78,500. At the same time, Ethereum has returned to $1,594.
Source: Autism Capital
At the same time, the cryptocurrency fear and greed index, which measures market sentiment for Bitcoin and other cryptocurrencies, scored 23 in the latest update on April 7, indicating extreme fear.
Charlie Shrem, the financial director of Australian cryptocurrency exchange BTC Markets, stated in a statement that this drop was not surprising, as global markets typically have lower liquidity on Sundays.
"Therefore, a few large sell-offs can have a disproportionate impact, quickly pushing prices down," he said.
"The trigger is not mysterious: President Trump's recent tariff comments have shaken the macro markets, and global trade relations have suddenly become uncertain."
However, some traders predict that Bitcoin may be on the verge of a breakout. BitMEX co-founder Arthur Hayes also speculated that while tariffs have disrupted the market, they could lead to a rise in Bitcoin.
U.S. stock index futures also opened lower.
According to Google Finance data, S&P 500 futures fell nearly 4%. At the same time, the tech-heavy Nasdaq index declined, and Dow Jones Industrial Average futures dropped over 8%.
Trading information platform Kobeissi Letter stated in an X post on April 6 that the decline in U.S. stock futures has pushed S&P 500 futures into "bear market territory," adding that the U.S. stock market has averaged a loss of $400 billion per day over the past 32 trading days.
Source: Kobeissi Letter
Tom Dunleavy, managing partner of venture capital firm MV Global, stated that if "tonight's futures remain unchanged," it could be "the worst three-day performance for U.S. stocks ever."
Pro-cryptocurrency billionaire investor Bill Ackman speculated that President Donald Trump might delay tariffs to allow countries to make counteroffers or reach agreements.
In a statement posted on his social media platform Truth Social on April 6, Trump emphasized the tariff issue, stating that the U.S. has a massive fiscal deficit with China, the European Union, and many other countries, and that these tariffs will address these issues.
"The only way to solve this problem is through tariffs, which are currently bringing hundreds of billions of dollars in revenue to the U.S. They are already in effect, and it's wonderful," he said.
He also told reporters on Air Force One that he did not intend to cause a market sell-off but added, "Sometimes you have to take medicine to solve a problem."
Meanwhile, Kevin Hassett, director of the U.S. National Economic Council, stated in an interview with ABC's "This Week" on April 6 that more than 50 countries have contacted the president seeking to renegotiate trade agreements.
"They are doing this because they understand that many tariffs are ultimately borne by them," he said.
U.S. Treasury Secretary Scott Basset urged America's trading partners not to take retaliatory measures in an interview with Bloomberg on April 2, stating, "If they don't try to respond with more tariffs, this is the limit of tariffs."
Related: Trump's Liberation Day: The "Peak of Uncertainty" Before the Cryptocurrency Market Recovers
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
