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Trump's Tariffs Hit Global Markets Hard: Another 50% Surge, Cryptocurrency Loses $56.8 Billion in a Single Day

2025.04.08 17:56:31

On April 8th, the US Dollar Index dropped to 103.49. Gold retreated to $2,982 for a brief respite, and Bitcoin rebounded to nearly $79,000. The market received news that US President Trump was considering a 90-day tariff suspension on multiple countries. Initially, this led to a rise in the market. However, the White House later refuted this unfounded report. Bitcoin and US stocks immediately reversed course and plunged sharply, triggering intense volatility once again. Subsequently, former US President Trump took a tough stance again and pressured countering countries, warning that the US would raise existing tariff rates to 50% on the 9th of this month. This series of news once again ignited market panic. The cryptocurrency market then experienced intense volatility. Bitcoin soared to $81,213 at one point and then quickly fell back. As of 9:30 am on April 8th, Bitcoin was trading at around $79,670, while Ethereum was consolidating around $1,574, with short-term trends still being observed. Within 24 hours, more than 446,500 investors were liquidated, and the total amount liquidated across the network reached a high of $56.8 billion. This collapse, known as the "cryptocurrency version of the Lehman moment," not only shattered the "crypto wealth creation myth" but also exposed the dual risks of leverage speculation and regulatory vacuum. As the world's first multi-asset trading wallet, BiyaPay has now enabled the instant exchange between fiat and digital currencies, participation in US/Hong Kong stock markets with USDT, zero-fee spot/contract Maker transactions, a compliant B2C withdrawal channel, and secure withdrawals without freezing accounts, effectively reducing the fund freeze risk in traditional OTC/C2C transactions.
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