Source: Google FinanceMost of the gains in crypto stocks and the broader US market came in the final three hours of the day's trading session, spurred by an afternoon post from Trump on his social media platform, Truth Social. In the post, Trump announced a 90-day pause on his global “reciprocal tariffs,” instead lowering the tariff rate to 10% on every country besides China, which he increased to 125% due to the country’s counter-tariffs against the US.
On April 4, the US stock market lost $3.25 trillion — around $570 billion more than the entire crypto market’s $2.68 trillion valuation at the time of publication. It came only two days after Trump signed an executive order establishing reciprocal tariffs on trading partners and a 10% baseline tariff on all imports from all countries.
Related: Bitcoin, stocks crumble after ’90 day tariff pause’ deemed fake news — BTC whales keep accumulatingAlthough Trump’s initial mention of tariffs in early February shook the markets and was a key catalyst in Bitcoin dropping below the $100,000 price level, it was his major escalation in early April that triggered significant volatility across the markets.
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Author / Journalist: Cointelegraph by Ciaran Lyons
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