- Bitcoin surges $82K following Trump’s 90-day tariff pause for all countries except China
- Bitcoin reacted by rising 8% to hit the $82,000
- Major tech stocks, including Tesla and Nvidia, also posted strong gains
- Trump’s decision is aimed at renegotiating global trade relations and increasing pressure on China
Just recently we were discussing how Trump’s tariffs are pushing global markets and how Bitcoin is feeling that pressure – and just now, Bitcoin surges $82K following Trump’s 90-Day tariff pause for all countries except China. He imposed tariffs on Chinese imports of 125% that take effect immediately, while other countries are subject to a blanket 10% tax for 90 days.
More About Trump’s Latest Decision on Tariffs 90 Days Pause
There’s a lot in this little post, and you’ve already seen the effect of it.
Trump continues to use the narrative in which he demands to show respect for America as a trading partner and to enter into a dialog for more favorable trading terms. However, this doesn’t fundamentally contradict the theory I’ve outlined before because we haven’t seen a complete elimination of tariffs, and the tariffs against China are to an extent will continue to push on the markets and the FED.
However, Bitcoin saw a sharp rise to $82K though it was in the $74K-$78K range for a few days. More specifically, we saw a sharp drop from $82K to $79K and later another to $77K on April 7. This was followed by a couple of recovery attempts with resistance at $78.5K to $79.2K. The next day the situation got even worse and we saw a record drop to $74.4K, and over the next few days, a series of recovery attempts brought Bitcoin to $80K.
Similarly, the next day was worse than the previous day and we saw Bitcoin at $76.5K and later at $74.5K, and here we were able to cross $82K right after the news of Trump’s decision on tariffs. More specifically at the time of writing Bitcoin has reached $82.8K, but is already experiencing a correction and is selling at $81.9K. This is likely the result of attempts to realize losses on short-term, especially those who bought Bitcoin above $85K and even more so above $90K-$100K.
Shares of major technology companies also experienced a short-term recovery, in particular:
- Tesla +16.95%
- Nvidia +15.49%
- Apple +7.96%
- Microsoft +8.45%
- Google +7.21%
- Amazon +9.47%
- Meta +12.50%
Conclusion
This temporary rebound is no doubt a positive development, but how long will it last against the bigger picture? The trade war continues, with US tariffs in force and retaliatory tariff decisions pending in a number of countries.
Stay tuned, be aware, and always assess the situation comprehensively, diversify risks, and adapt your strategy to daily changes.
