Washington Rumor Mill Roils Markets: Bitcoin’s Brief Trip Above $80k Fades
- Rumors of a 90-day tariff pause pushed Bitcoin (BTC) above $80,000 in the past 24 hours.
- Bitcoin then retreated to $78,000 after the White House denied reports of a tariff pause.
- Trump threatened China with increasing tariffs to 50% if they don’t call back their tariffs.
In what has become a chaotic week for global markets, Bitcoin surged past the symbolic $80,000 mark in overnight trading — only to be dragged back down following a dramatic reversal in narrative out of Washington, D.C.
The market whipsaw began when unconfirmed reports suggested the Trump administration might offer a 90-day pause on matching tariffs related to the trade dispute with China. This rumor triggered a swift, hopeful rally across risk assets. Bitcoin punched through the $80,000 resistance level during this brief optimism.
Reality Bites: White House Denial, Trump Threat Reverse Gains
That optimism evaporated quickly. Media outlets reportedly retracted initial stories after the White House branded the tariff pause rumor “fake news.”
Related: White House Claims No Knowledge of 90-Day Tariff Pause
Market…
The post Washington Rumor Mill Roils Markets: Bitcoin’s Brief Trip Above $80k Fades appeared first on Coin Edition.
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Washington Rumor Mill Roils Markets: Bitcoin’s Brief Trip Above $80k Fades
- Rumors of a 90-day tariff pause pushed Bitcoin (BTC) above $80,000 in the past 24 hours.
- Bitcoin then retreated to $78,000 after the White House denied reports of a tariff pause.
- Trump threatened China with increasing tariffs to 50% if they don’t call back their tariffs.
In what has become a chaotic week for global markets, Bitcoin surged past the symbolic $80,000 mark in overnight trading — only to be dragged back down following a dramatic reversal in narrative out of Washington, D.C.
The market whipsaw began when unconfirmed reports suggested the Trump administration might offer a 90-day pause on matching tariffs related to the trade dispute with China. This rumor triggered a swift, hopeful rally across risk assets. Bitcoin punched through the $80,000 resistance level during this brief optimism.
Reality Bites: White House Denial, Trump Threat Reverse Gains
That optimism evaporated quickly. Media outlets reportedly retracted initial stories after the White House branded the tariff pause rumor “fake news.”
Related: White House Claims No Knowledge of 90-Day Tariff Pause
Market…
The post Washington Rumor Mill Roils Markets: Bitcoin’s Brief Trip Above $80k Fades appeared first on Coin Edition.
Read More
Did the Fed Just Crush Crypto and Stocks’ Recovery Hopes?