Bitcoin Tumbles Below $80K Alongside 5% Plunge in Nasdaq as China Tariff Tiff Escalates
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Bitcoin dropped below $80,000 and Nasdaq fell 5.5% following escalating trade tensions between the US and China. A White House clarification raised effective China tariff rates to 145%, causing market volatility. Crypto stocks like MicroStrategy, Coinbase, and Marathon Digital also experienced significant declines.
April 10, 2025 | 4:30 pm
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NEGATIVE IMPACT
Bitcoin price dropped 4% below $80,000 due to escalating US-China trade tensions and market uncertainty.
Geopolitical tensions and potential trade war escalation are causing market volatility, negatively impacting Bitcoin's price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Coinbase stock fell 8.1% as Bitcoin and crypto markets react to US-China trade tensions.
Coinbase's stock performance is tied to cryptocurrency market conditions and broader economic uncertainties.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
Marathon Digital stock dropped 9.3% as Bitcoin-related stocks suffer from market volatility.
As a Bitcoin mining company, Marathon Digital's stock is sensitive to Bitcoin price movements and market sentiment.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
MicroStrategy stock dropped 11.2% amid broader market sell-off and Bitcoin price decline.
As a major Bitcoin-holding company, MicroStrategy's stock is closely correlated with Bitcoin's price and overall market sentiment.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75