Bitcoin Staying Relatively Unharmed During Tariff Chaos?
📉 Following Trump's tariff announcements yesterday, the S&P 500 is currently down -4.02% in Thursday trading. In the 2020's, there have only been 5 worse performing days:
- 🗓️ March 16, 2020: -11.98%
- 🗓️ March 12, 2020: -9.51%
- 🗓️ March 9, 2020: -7.60%
- 🗓️ June 11, 2020: -5.89%
- 🗓️ September 13, 2022: -4.32%
And while stock markets have reached 7-month lows, crypto (despite what you may be seeing from the FUD on your timelines) has held up rather well. Bitcoin still sits at $81.9K, over +6.1% above the $77.0K local bottom from 3 weeks ago.
Bitcoin remains relatively insulated from tariff-induced volatility due to its intangible and borderless nature, making it slightly more immune to direct import and export taxes (though it is still impacted due to ties to global economic health, in general).
Unlike traditional stocks, cryptocurrencies aren't typically impacted by trade disruptions or international supply chain concerns triggered by political decisions. As a result, crypto markets have proven notably resilient during this recent period of stock market turbulence.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
DOGE moves on without Musk as the work has “just begun”
Share link:In this post: Elon Musk has stepped down from his unpaid role at the Department of Government Efficiency (DOGE), after leading it for 16 months. DOGE has so far reported $175 billion in savings and will continue operating until its planned end date, July 4, 2026. Despite Musk’s exit and critics’ protests, the White House says DOGE remains central to the administration’s agenda.
Germany is considering 10% digital tax on big US tech firms like Meta and Google
Share link:In this post: Germany is gearing up to impose a 10% digital tax on global platforms like Google and Meta. The levy would target German advertising revenue and could mirror Austria’s 5% model at double the rate. Local media groups back the plan, hoping to channel funds into domestic companies with editorial teams.
Meta and Anduril to develop AI-powered combat helmets for US military
Share link:In this post: Meta and Anduril partner to build lightweight AR VR gear for soldiers. Joint bid seeks up to $100 million Army contract with EagleEye sensor system. Deal reunites Zuckerberg and Palmer Luckey as Meta expands defense tech focus.
Trump administration to cut thousands of jobs at the State Dept
Share link:In this post: The Trump administration notifies Congress of a plan to cut 3,448 State Department jobs and streamline over 300 bureaus. Human rights bureau to be recast under a new undersecretary role focused on “Democracy and Western Values.” Refugee and Migration Bureau to be reshaped to prioritize returning illegal migrants and lead overseas disaster response.
Trending news
MoreCrypto prices
More
