Bitcoin Falls Below $75K As Trump Doubles Down On Tariffs

China Retaliates

Stocks fell sharply, with U.S. futures down 4%, and Hong Kong’s Hang Seng index dropping over 10%. European and Asian markets also declined as investors moved to safe-haven assets, pushing bond yields lower worldwide.

Source: TradingView

Goldman Sachs increased the U.S. recession probability to 45%, citing the impact of Trump’s tariffs. The President defended his policy, claiming tariffs are necessary to fix trade deficits with China and the EU. In response, China imposed 34% retaliatory tariffs.

Bitcoin Crashes

The market turmoil wiped out over $5 trillion from US stocks in two days, the worst week since the 2020 pandemic crash. Even Trump supporters like Bill Ackman and Stanley Druckenmiller warned the strategy could harm the U.S. economy.

Safe-haven bonds soared, while commodities and cryptocurrencies plunged. Bitcoin (BTC) fell to $75,000, signaling a broader pullback from risk assets amid growing global uncertainty.