The Cryptocurrency company felt that this week, Donald Trump’s sweeping tariff rollouts spent the turbulence of market turbulence, and there was a fever as it promoted an early competition.
From the exchange to the Bitcoin (BTC) miner, encryption stocks had more difficulties than other companies’ shares despite warm relationships with the US president.
On April 2, Trump announced that at least 10%of tariffs on all imported goods have at least 10%tariffs and additional “mutual” tariffs to 57 countries.
Since then, major US stock indexes, including S & P 500 and NASDAQ, have been reduced by about 10% for merchants for the upcoming trade war.
Bitcoin miners were sold in Trump’s tariff news. source: Morning star
relevant: Bitcoin ‘decouples,’ stock ‘loses $ 3.5t during the Trump tariff war and warns of’ high inflation ‘
Sales of sharp sellers
According to Google Finance’s data, Crypto Exchange Coinbase, Trump’s prominent allies in the US elections in November, experienced a serious sale of a similar share price over the same period.
Bitcoin miners are also gaining popularity. According to MorningStar’s data, Coinshares Crypto Miners ETF (WGMI) has lost about 13%of its value since the April 2 announcement just before April 2.
Even the strategy, one of the most performance stocks in 2024, was not immune. Google financial data said in the news that the stock price decreased by about 6%.
According to Reuters, the investment bank JPMORGAN raised the probability of global economic recession from 40%to 40%to 60%in 2025.
JP Morgan said, “The destructive US policy has been recognized as the greatest danger of global prospects throughout the year.
“The effect is likely to be expanded through retaliation, and the slide of the US business sentiment and supply chain.”
The stock of the strategy also decreased this week. source: Google Finance
IPO delay
The impact of US tariffs is not limited to stock price volatility. Stablecoin publisher circle is known to have suspended plans for 2025 IPOs by citing market turbulence.
According to the Wall Street Journal, Circle submits the company on April 1 to release the company and is “waiting for me to worry” before taking additional measures.
It is known that one of several companies, including Fintech Klarna and Ticketing Service Stubhub, considers changes to the IPO plan or shelf.
One exception can be Bitcoin itself, and some analysts say they finally “separate” in a wider market.
Bitcoin’s spot price is more than $ 82,000 this week, despite the breakdown of the US stock market this week.
magazine: UnstableCoins: depegging, bank runs and other dangerous looms