🚨 Trade War Showdown: China Unleashes 34% Tariff Fury on US Imports! 🚨
The Unlikely Hero?
Amid China’s latest move, crypto analyst Kevin Capital suggested that the crypto market is unlikely to witness as much decline as other markets. He noted that while crypto is only indirectly affected by tariffs unlike companies that make up the S&P 500 and other indices. Ah, but that’s not entirely true, is it? 🤔
The analyst explained that crypto is still holding up well right now because Fed funds futures are now pricing in five rate cuts as monetary policy expectations drive the market. He added that crypto traders believe the Fed could rescue them. It’s like a big game of chicken, and everyone’s waiting to see who will blink first! 🐓
However, Kevin Capital warned that things could take a drastic turn if Fed Chair Jerome Powell comes and banishes the idea of all these rate cuts. If that happens, he predicts the crypto market will likely catch up to the stock market in this ongoing decline. It’s like a big game of Jenga, and everyone’s waiting to see which block will be the final straw! 🤯
On the other hand, if Powell entertains the idea of significant easing of monetary policy, then the analyst believes all eyes will be on the next CPI report next week, and the crypto market could continue to hold up against the stock market. It’s like a big game of poker, and everyone’s waiting to see who will make the next move! 🃏
Indeed, the stock market has suffered a worse downtrend than the crypto market. The S&P 500 further declined after China announced 34% tariffs on US imports, wiping out over $1.5 trillion as soon as the market opened today. It’s like a big game of musical chairs, and everyone’s trying to get out before the music stops! 🎶
Meanwhile, Bitcoin rebounded following a strong US job data, proving Kevin’s theory that the crypto market may be concerned about the Fed’s policies rather than the ongoing global trade war. It’s like a big game of cat and mouse, and everyone’s waiting to see who will pounce next! 🐈
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2025-04-04 16:57