Bitcoin sees big swings, up and down, as markets react sharply to tariff news
Author: Christian Sandor | Edited by: Stephen Alpher Updated: April 7, 2025, 3:34 PM Published: April 7, 2025, 3:07 PM
The last hour and a half has been turbulent in the markets, with the Nasdaq swinging from a 5% drop to a 5% gain and then very quickly back to zero amid rumors (later denied by the White House) that President Trump was considering a ninety-day delay in tariffs on all countries except China.
“This is fake news,” White House press secretary Caroline Leavitt said in response to rumors of a delay.
Cryptocurrencies also saw volatility, with Bitcoin (BTC) jumping from $74,400 to more than $80,000 before falling back to $79,000, still down 4.3% over the past 24 hours. Ether (ETH) remains down more than 11%, while XRP has fallen 9.3%.
However, amid the ongoing market panic, there have been some positive developments: European Union Commissioner Ursula von der Leyen said: “Europe is ready to negotiate with the US,” including on introducing zero tariffs on industrial goods.
Meanwhile, President Trump noted: “Countries from all over the world are talking to us,” adding that Japan is sending “the best team” for the discussions.
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