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CRYPTO CHAOS! Bitcoin CRASHES After Trump’s Tariff TRUMPS China!
Hold onto your wallets, folks! The Bitcoin rollercoaster just hit a stomach-churning dip! 🚨 After President Donald Trump unleashed a tweetstorm accusing China of breaking a crucial tariff deal, the world’s most famous cryptocurrency plummeted a shocking 5%!
TRUMP GOES OFF! China’s Violating the TRUCE?!
In a jaw-dropping post on Truth Social, Trump blasted, “China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US.” He didn’t stop there! The former president hinted that action is imminent: “So much for being Mr. NICE GUY!” 🔥
The drama exploded as Trump’s fiery words sent shockwaves through the crypto market on Friday! Bitcoin nosedived to a dreadful low of $103,900, just a week after hitting an all-time high of $111,800. The fall didn’t stop there—XRP down 4%, Solana down 6%, and Dogecoin took a whopping 10% tumble!
TARIFUL TRAP! A Wild Twist in the Trade Saga!
On May 12, Trump made waves by striking a trade deal with China, agreeing to slash tariffs dramatically while China promised to roll back their retaliatory tariffs for 90 days. But hold on! Just when it looked peaceful, news of a trade court ruling declaring Trump’s tariffs unconstitutional had everyone on edge, only to see an appeals court swoop in with a stay, reinstating the levies. Talk about a rollercoaster! 🎢
THE TARIFF DRAMA! On-Again, Off-Again—It’s a WILD RIDE!
Trump’s ever-fluctuating tariff policies have become the highlight of his second term. Just back in February, he slapped a 25% tariff on Mexico and Canada, and let’s not forget that 10% on China! Investors were left reeling, with the S&P 500 plummeting 6% in just months.
Things heated up on April 2 when Trump proposed monumental tariffs of up to 49% on many trading partners! Panic spread like wildfire, triggering an 11% plunge in Bitcoin and a 14% drop in the S&P 500!
But just as quickly, a break was announced—sort of. Most tariffs were paused for 90 days, except for those on China, which shot up to a staggering 145%! The aftermath? The markets rallied, and Bitcoin skyrocketed to a record high!
As it stands, the battle over tariffs and trade continues spiraling in a dramatic contest that has traders on the edge. What’s next in this high-stakes saga? Buckle up, because this story isn’t over yet! 💥💰
photo credit: fortune.com
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