{"id":839746,"date":"2025-04-08T08:11:41","date_gmt":"2025-04-08T13:11:41","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/04\/08\/bitcoin-whipsaws-on-fake-tariff-bombshell-news\/"},"modified":"2025-04-08T08:11:41","modified_gmt":"2025-04-08T13:11:41","slug":"bitcoin-whipsaws-on-fake-tariff-bombshell-news","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/04\/08\/bitcoin-whipsaws-on-fake-tariff-bombshell-news\/","title":{"rendered":"Bitcoin Whipsaws On Fake Tariff Bombshell News"},"content":{"rendered":"
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Reason to trust<\/h3>\n

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Strict editorial policy that focuses on accuracy, relevance, and impartiality<\/p>\n<\/p><\/div>\n

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Speculation over a purported White House plan to pause tariffs for ninety days on all countries except China sent markets into a frenzy earlier today, triggering abrupt price reversals across equities, Bitcoin and cryptocurrencies. In a quick-fire series of conflicting updates, the rumor initially floated at around 10:10 AM ET, sparked momentum in risk assets, and was eventually deemed \u201cfake news\u201d by the White House.<\/p>\n

The Kobeissi Letter (@KobeissiLetter) described<\/a> the chronology on X, noting: \u201cWhat just happened? At 10:10 AM ET, rumors emerged that the White House was considering a \u201890-day tariff pause.\u2019 At 10:15 AM ET, CNBC reported that Trump is considering a 90-day pause on tariffs for ALL countries except for China. By 10:18 AM ET, the S&P 500 had added over +$3 TRILLION in market cap from its low.\u201d<\/p>\n

However, only seven minutes later, at 10:25 AM ET, reports emerged that the White House was \u2018unaware\u2019 of Trump considering a 90-day pause. \u201cAt 10:26 AM ET, CNBC reports that the 90-day tariff pause headlines were incorrect. At 10:34 AM ET, the White House officially called the tariff pause headlines \u2018fake news.\u2019 By 10:40 AM ET, the S&P 500 erased -$2.5 TRILLION of market cap from its high, 22 minutes prior. Never in history have we seen something like this,\u201d The Kobeissi Letter writes.<\/p>\n

The mere suggestion of a temporary reprieve from tariffs managed to shift sentiment rapidly in both equity and crypto markets. BTC, which was trading around $75,805 at the time, soared by roughly 7.2% to surpass $81,200 within half an hour. Once confirmation arrived that no such pause was planned, the gains evaporated almost as fast as they had arrived, pulling Bitcoin back to roughly $77,560.<\/p>\n

The abrupt turn of events unleashed a wave of commentary among crypto observers. Pentoshi (@Pentosh1) remarked that \u201cThe fake news tweet showed there\u2019s a lot of sidelined capital at least for relief rally and the risk is to the upside on any positive news at least temporarily.\u201d<\/p>\n

Will Clemente III cautioned: \u201cBear take: Liquidity is bad and this volatility might break something. Bull take: This headline was the cointelegraph intern BTC ETF headline but for equities.\u201d<\/p>\n

Julio Moreno, Head of Research at CryptoQuant, remarked that \u201cBitcoin\u2019s current price drawdown is about to become the largest of the current cycle,\u201d illustrating his point with a chart that showed BTC\u2019s correction reaching -26.62%, matching the scale of August 2024\u2019s correction.<\/p>\n

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Bitcoin price drawdown by year | Source: X @jjcmoreno<\/a><\/figcaption><\/figure>\n

Macro analyst Alex Kr\u00fcger (@krugermacro) invoked<\/a> BlackRock CEO Larry Fink\u2019s observation that another 20% market drop is not out of the question, saying: \u201cThat\u2019s the thing. Under normal circumstances, probability of such scenarios or things such as stagflation<\/a> are so low you can just brush them off. Trump opened up the left tail => anything is possible. We are one headline away from a 7% candle in either direction.\u201d<\/p>\n

Podcast host Felix Jauvin (@fejau_inc) agrees: \u201cWhat\u2019s so crazy about this crash<\/a> vs other is its entirely self-willed and could be reversed in an instant on one tweet. Has there ever been anything like that?\u201d<\/p>\n

In the midst of the turmoil, European Union Commissioner Ursula von der Leyen reaffirmed a willingness to seek solutions, stating, \u201cEurope is ready to negotiate with the US,\u201d including the possibility of zero-for-zero tariffs<\/a> on industrial goods.<\/p>\n

At press time, BTC traded at $78,824.<\/p>\n

\"Bitcoin
BTC hovers below $80,000, 1-day chart | Source: BTCUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image created with DALL.E, chart from TradingView.com<\/p>\n<\/p><\/div>\n

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\"Jake\t\t<\/p>\n

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Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. <\/p>\n

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His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
\nWith a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.<\/p>\n

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.<\/p>\n

For Jake, Bitcoin represents more than just an investment; it’s a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.<\/p>\n

As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.<\/p>\n

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.<\/p>\n

You can engage with his latest takes on Twitter: @realJakeSimmons.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

Disclaimer:<\/strong> The information found on NewsBTC is for educational purposes
\n\t\t\t\t\t\t\tonly. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any
\n\t\t\t\t\t\t\tinvestments and naturally investing carries risks. You are advised to conduct your own
\n\t\t\t\t\t\t\tresearch before making any investment decisions. Use information provided on this website
\n\t\t\t\t\t\t\tentirely at your own risk.<\/p>\n<\/p><\/div>\n

Read More<\/a>
\n Jake Simmons<\/p>\n","protected":false},"excerpt":{"rendered":"

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies<\/p>\n","protected":false},"author":1,"featured_media":839747,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4041,26842],"tags":[],"class_list":["post-839746","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","category-whipsaws"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/839746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=839746"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/839746\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/839747"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=839746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=839746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=839746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}