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Chronicles

The story behind the story

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Bitcoin is down 10%+ to ~$76K after President Trump's global tariffs, far below its record price of nearly $110K on Trump's inauguration on January 20, 2025

The rapid drop shows that cryptocurrencies, which the president has promoted, are subject to the same market gyrations as any other risky asset.

New York Times David Yaffe-Bellany

Discussion

  • @tier10k @tier10k on x
    Good place to start filling long-term bags (with non-perishable food, ammo and medical supplies)
  • @apompliano Anthony Pompliano on x
    There are only two times I can remember the consensus view being this offsides as it is with tariffs: 1. Everyone thinking bitcoin was worthless pre-2019 2. Everyone thinking inflation wouldn't be a problem after printing trillions of dollars during the pandemic How can you
  • @bitcoinpierre Pierre Rochard on x
    They said tariffs would cause inflation, but bitcoin is now more affordable. The experts are always wrong.
  • @rnr_0 Romano on x
    Just checked ETH Fell for it again didn't you?
  • @tyler Tyler Winklevoss on x
    For the first time in history, bitcoin is not moving in lockstep with the stock market. It's now behaving like a hedge to geopolitical uncertainty. When the stock market plunged during Covid, so did bitcoin. And this was always case over the last 10+ yrs. But not this time.
  • @deedydas Deedy on x
    Margin call Monday is upon us! Many public market investors borrowed so much money and are overleveraged. In the last 48hrs since the Trump tariffs, SP500 and Bitcoin are both down 10%+. This may force them to sell triggering a vicious downward spiral. Markets may be very red.
  • @jacobkinge Jacob King on x
    Bitcoin isn't tanking because of tariffs. It's collapsing because the U.S. government is quietly about to unleash new HARSH stablecoin regulations that will obliterate Tether—erasing it from existence. It's about time. For those who aren't aware, Tether props up nearly 85%+ of [i…
  • @choffstein @choffstein on x
    waiting for the bitcoin bros to argue that by having as asset that sells no goods or services and zero future cash flow actually makes it immune to tariff-based market shocks