Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Bitcoin Whipsaws On Fake Tariff Bombshell News

Share This Post

Speculation over a purported White House plan to pause tariffs for ninety days on all countries except China sent markets into a frenzy earlier today, triggering abrupt price reversals across equities, Bitcoin and cryptocurrencies. In a quick-fire series of conflicting updates, the rumor initially floated at around 10:10 AM ET, sparked momentum in risk assets, and was eventually deemed “fake news” by the White House.

The Kobeissi Letter (@KobeissiLetter) described the chronology on X, noting: “What just happened? At 10:10 AM ET, rumors emerged that the White House was considering a ‘90-day tariff pause.’ At 10:15 AM ET, CNBC reported that Trump is considering a 90-day pause on tariffs for ALL countries except for China. By 10:18 AM ET, the S&P 500 had added over +$3 TRILLION in market cap from its low.”

However, only seven minutes later, at 10:25 AM ET, reports emerged that the White House was ‘unaware’ of Trump considering a 90-day pause. “At 10:26 AM ET, CNBC reports that the 90-day tariff pause headlines were incorrect. At 10:34 AM ET, the White House officially called the tariff pause headlines ‘fake news.’ By 10:40 AM ET, the S&P 500 erased -$2.5 TRILLION of market cap from its high, 22 minutes prior. Never in history have we seen something like this,” The Kobeissi Letter writes.

The mere suggestion of a temporary reprieve from tariffs managed to shift sentiment rapidly in both equity and crypto markets. BTC, which was trading around $75,805 at the time, soared by roughly 7.2% to surpass $81,200 within half an hour. Once confirmation arrived that no such pause was planned, the gains evaporated almost as fast as they had arrived, pulling Bitcoin back to roughly $77,560.

The abrupt turn of events unleashed a wave of commentary among crypto observers. Pentoshi (@Pentosh1) remarked that “The fake news tweet showed there’s a lot of sidelined capital at least for relief rally and the risk is to the upside on any positive news at least temporarily.”

Will Clemente III cautioned: “Bear take: Liquidity is bad and this volatility might break something. Bull take: This headline was the cointelegraph intern BTC ETF headline but for equities.”

Julio Moreno, Head of Research at CryptoQuant, remarked that “Bitcoin’s current price drawdown is about to become the largest of the current cycle,” illustrating his point with a chart that showed BTC’s correction reaching -26.62%, matching the scale of August 2024’s correction.

Bitcoin price drawdown by year

Macro analyst Alex Krüger (@krugermacro) invoked BlackRock CEO Larry Fink’s observation that another 20% market drop is not out of the question, saying: “That’s the thing. Under normal circumstances, probability of such scenarios or things such as stagflation are so low you can just brush them off. Trump opened up the left tail => anything is possible. We are one headline away from a 7% candle in either direction.”

Podcast host Felix Jauvin (@fejau_inc) agrees: “What’s so crazy about this crash vs other is its entirely self-willed and could be reversed in an instant on one tweet. Has there ever been anything like that?”

In the midst of the turmoil, European Union Commissioner Ursula von der Leyen reaffirmed a willingness to seek solutions, stating, “Europe is ready to negotiate with the US,” including the possibility of zero-for-zero tariffs on industrial goods.

At press time, BTC traded at $78,824.

Bitcoin price

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Warren Buffett Estimates That Trump’s Trade Policies Could Lead to Nuclear Confrontation

During Berkshire Hathaway’s 2025 annual shareholder meeting, Buffett criticized the Trump administration’s America First trade policies, suggesting that tariffs could be perceived as acts

Ethereum Exchange Exodus Deepens: $380M Withdrawn As Crucial Support Level Emerges

Ethereum has recently regained bullish footing, climbing to $1,847 after dipping below $1,750 toward the end of April This rebound follows a period of volatility, with price movements fluctuating

Fact Check: Will Ripple Vs SEC End on Thursday?

The post Fact Check: Will Ripple Vs SEC End on Thursday appeared first on Coinpedia Fintech News The long-running legal battle between Ripple and the US Securities and Exchange Commission (SEC) might

Vitalik Buterin Wants to Make Ethereum as “Beautifully Simple” as Bitcoin

Ethereum co-founder Vitalik Buterin announced on May 3, 2025, a five-year plan to simplify Ethereum’s protocol, calling the Bitcoin network “beautifully simple” in his blog post “Simplifying

Michael Saylor’s $84 Billion Bitcoin Bet: How Is Strategy Doing On Its Current BTC Holdings?

Michael Saylor’s Bitcoin-first investment strategy has once again taken the spotlight after Strategy (formerly MicroStrategy) laid out an ambitious new plan to scale its BTC holdings The company

DeFi’s Unfair Advantage: How MEV and Front-Running Hurt Traders

Unfair trading practices like MEV, slippage, and front-running have long plagued decentralized exchanges, eroding both profits and the core principles of fairness David Wells suggests that traders