Bitcoin Soars On Tariff Reversal

CRYPTO
Bitcoin Soars On Tariff Reversal

Bitcoin surged to nearly $82,000 early Thursday, leading a broad crypto rally after President Trump reversed course on steep global tariffs—excluding China, where levies rose to 125%. The policy shift sparked a relief rally across equity and crypto markets, with XRP and ether jumping 12%, and ADA, BNB, SOL, and DOGE climbing up to 10%.

The total crypto market cap rose 6%, and the CoinDesk 20 Index gained 7%. Over $350 million in short liquidations—highest since March—added fuel to the rebound, reversing earlier week losses. Bittensor’s TAO, Sonic’s S, and Flare’s FLARE led midcap gains, each surging up to 30%. U.S. stocks posted their best day since 2008, with the S&P 500 up 9.5% and Nasdaq 100 soaring 12%. Analysts remain cautiously optimistic. Jeff Mei of BTSE highlighted shifting global trade dynamics, while HashKey’s Jupiter Zheng suggested the market may have hit a local bottom, with further growth possible if regulatory clarity continues.

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FINANCE
China Tensions Keep Pressure High

President Trump paused some tariffs just before major banks faced earnings scrutiny, triggering a massive market rebound. His Truth Social post eased fears of a trade war, especially after Treasury Secretary Scott Bessent reassured global markets. The Nasdaq surged 12%, the S&P 500 climbed 9%, and individual stocks soared—Delta jumped 23%, Nvidia rose 18%, and Apple gained 15% after a sharp dip.

This pause followed days of market carnage sparked by higher-than-expected tariffs, with recession fears stoked by JPMorgan’s Jamie Dimon. Trump cited Dimon’s warning as part of his reason for the reversal. While optimism returned, uncertainty lingers. Analysts are closely watching upcoming earnings calls for signs of long-term damage. Meanwhile, China remains a wildcard. Tariffs on Chinese goods rose to 125%, escalating tensions. Experts like Idanna Appio fear geopolitical fallout if the economic rift deepens. Despite the bounce, the U.S. economy remains fragile, with concerns that this cycle could repeat in 90 days.

FINANCE
Russia's Economy Shows Sharp Slowdown

Russia’s economy sharply slowed in February, raising concerns just as a global trade war threatens key exports like oil and gas. GDP growth dropped to 0.8%, down from 3% in January—its weakest since March 2023. Industrial output rose just 0.2%, and retail sales growth also weakened. While the Economic Development Ministry blamed February’s Leap Year for the drop, economists cite deeper issues: sanctions, inflation, labor shortages, and tighter monetary policy.

Inflation has topped 10%, fueled by rising wages and a shrinking workforce due to military conscription and demographic decline. In response, Russia’s central bank hiked rates to 21%. Oil prices have plunged below $60 a barrel amid global tariff escalations, hitting Russia’s key revenue stream—oil and gas account for 30% of its budget. Although Russia wasn’t included in Trump’s new tariffs, ripple effects are hurting demand. If oil prices stay low, and defense spending falls, Russia’s fragile economy could slow even further.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.