In the Trump tariff war with China, the fake headline for temporary suspensions sent a shock wave through the US stock market. As the news turned out to be false, volatility surged. Now we need to analyze how Bitcoin Market responded to development. diving!
US market swing: What caused
According to a fake report on April 7 at 10:15 am (UTC-4), US President Donald Trump said he is suspending tariffs with China for the next 90 days. Immediately after the report was released, the S & P 500 rose to $ 5,249.28. From 9:30 am to 10:30 am (USST-4), S & P surged more than 3.36%.
Interestingly, the Bitcoin market followed the same trend. The fake news has increased the BTC market to $ 81,251. The market increased by more than 2.79%between 9:30 am and 10:30 am (USST-4).
How the US market responded to the White House’s rejection
Immediately after the surge in the market, the White House was strongly about fake news and condemned the US government’s claim to suspend the tariff plan for China.
On the 30-minute chart of the S & P 500 index, a strong red candlestick was formed at 11 am (UTC-4), dropping from $ 5,076.52 to $ 4,956.34.
Similarly, the BTC price slipped from $ 79,025.10 to $ 78,016.40.
The reason why the market rebounded despite the deterioration of conditions
At the end of April 7, however, the S & P market was more than 4.67% from the lowest point of the day.
Similarly, yesterday’s Bitcoin market saw an increase of about 0.91%. In the end, the market was about 6.24%compared to the lowest point of the day, and almost 4,652.13 points were low.
This suggests that investors eagerly want to return to the market even in the middle of bad news. There is a strong belief that all falls are the opportunity to buy.
According to the report, as with March 2020, overconducting conditions are quickly making money in the market.
Emotions appear to be leading the price as well as the basis.
- Also read:
- Bitcoin analysts found great opportunities, with China’s comfort since 2023.
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What is the meaning of the encryption market?
The event shows that Bitcoin and wider encryption markets are strictly tracking macroeconomic feelings and traditional markets. The rapid response to fake news shows a sensitive encryption price for political development. But a quick rebound suggests that investors’ interest in encryption is particularly strong in volatility. As a traditional market shakes in emotions, encryption can continue to reflect this movement and provide both risks and opportunities to traders.
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