{"id":20348,"date":"2025-04-03T05:46:49","date_gmt":"2025-04-03T05:46:49","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=20348"},"modified":"2025-04-03T05:46:49","modified_gmt":"2025-04-03T05:46:49","slug":"bitcoin-price-plummets-to-82k-in-reaction-to-trump-tariffs","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=20348","title":{"rendered":"Bitcoin Price Plummets to $82K in Reaction to Trump Tariffs"},"content":{"rendered":"
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Crypto markets have tanked around 4% over the past few hours, with total capitalization falling to a three-week low of $2.74 trillion.<\/p>\n

Around $150 billion left spot markets while almost 170,000 traders were liquidated, with total liquidations exceeding $500 million, according<\/a> to CoinGlass.<\/p>\n

Bitcoin<\/a> prices tanked more than 6% from an intraday high of $87,790 to bottom out at $82,277 during early trading in Asia on Thursday morning. However, the asset recovered to reach $83,400 and remains within its range-bound channel at the time of writing.<\/p>\n

Trump Tariffs Rattle Markets<\/h2>\n

The market slump follows US President Donald Trump\u2019s April 2 confirmation of trade tariffs that will impact many countries across the globe.<\/p>\n

Trump announced tariffs on 185 countries at once in one of the largest tariff impositions<\/a> in US history. As a result, S&P 500 futures erased around $2 trillion in market cap in under 15 minutes, reported<\/a> the Kobeissi Letter.<\/p>\n

Economists described Trump\u2019s new reciprocal tariff plan as a \u201ctsunami\u201d that will \u201cslam into the global economy and have repercussions that are hard to quantify.\u201d<\/p>\n

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\u201cThis is a game changer, not only for the US economy but for the global economy. Many countries will likely end up in a recession,\u201d said<\/a> Olu Sonola, head of US economic research at Fitch Ratings.<\/p>\n<\/blockquote>\n

Trump has hit all countries with a 10% tariff starting April 5, with some countries facing even higher rates, including China, which faces a 34% tariff, Vietnam 46%, the European Union 20%, and Japan 24%.<\/p>\n

Describing the announcement as \u201cLiberation Day,\u201d Trump said the new taxes are needed to erase a trade deficit between the US and other countries. Moreover, imports will face both the universal tariff of 10% plus the specific reciprocal import levies targeting each nation.<\/p>\n

\u201cReciprocal. That means they do it to us, and we do it to them,\u201d said Trump.<\/p>\n

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Trump is set to sign reciprocal tariffs into effect. The executive order is imminent\u2014Liberation Day has arrived! pic.twitter.com\/UoaSb1HML2<\/a><\/p>\n

\u2014 CryptoPotato Official (@Crypto_Potato) April 2, 2025<\/a><\/p>\n<\/blockquote>\n