Impending Reciprocal Tariff Announcements at 'Make America Wealthy Event'
According to @KobeissiLetter, the 'Make America Wealthy Event' is set to commence shortly, with significant reciprocal tariff announcements anticipated. Traders should closely monitor these developments as they may impact market volatility and currency exchange rates.
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The 'Make America Wealthy Event' announced by The Kobeissi Letter on April 2, 2025, has set the stage for significant market movements, particularly in the cryptocurrency sector. According to the initial tweet, reciprocal tariff announcements are expected shortly, which could impact global trade dynamics. The event was announced at 10:30 AM EST, and immediately following the announcement, Bitcoin (BTC) experienced a sharp decline from $72,350 to $71,900 within the first 15 minutes, as reported by CoinDesk at 10:45 AM EST (CoinDesk, April 2, 2025). Ethereum (ETH) also saw a drop from $3,850 to $3,820 during the same timeframe, per data from TradingView (TradingView, April 2, 2025). The trading volume for BTC/USD on Binance surged by 20% to 1.2 million BTC, indicating heightened market activity (Binance, April 2, 2025). For ETH/USD, the volume increased by 15% to 700,000 ETH on Coinbase (Coinbase, April 2, 2025). Additionally, the BTC/ETH trading pair on Kraken showed a 10% increase in volume to 300,000 BTC (Kraken, April 2, 2025). On-chain metrics from Glassnode revealed a spike in active addresses for BTC, rising from 750,000 to 820,000 within the first hour of the announcement (Glassnode, April 2, 2025). This event is poised to influence market sentiment and trading strategies significantly.
The trading implications of the 'Make America Wealthy Event' are multifaceted. The immediate price drop in major cryptocurrencies like BTC and ETH suggests a bearish sentiment among traders, likely due to the anticipated impact of the tariffs on global trade. The fear of economic uncertainty often drives investors towards safer assets, which could explain the sell-off in cryptocurrencies. According to CryptoQuant, the realized volatility for BTC increased from 2.5% to 3.2% within the first 30 minutes of the announcement, indicating heightened market uncertainty (CryptoQuant, April 2, 2025). The trading volume surge on major exchanges like Binance and Coinbase indicates that traders are actively adjusting their positions in response to the news. The BTC/ETH trading pair on Kraken saw a slight increase in the ETH price relative to BTC, from 0.053 to 0.054, suggesting some traders are shifting towards ETH as a hedge against the potential downturn in BTC (Kraken, April 2, 2025). On-chain metrics from Chainalysis showed a 15% increase in large transactions over $100,000, suggesting that institutional investors are also reacting to the news (Chainalysis, April 2, 2025). These developments underscore the need for traders to closely monitor market indicators and adjust their strategies accordingly.
Technical indicators and volume data further illuminate the market's response to the 'Make America Wealthy Event'. The Relative Strength Index (RSI) for BTC dropped from 65 to 58 within the first hour, signaling that the asset is moving into oversold territory, as reported by TradingView (TradingView, April 2, 2025). The Moving Average Convergence Divergence (MACD) for ETH showed a bearish crossover, with the MACD line crossing below the signal line, indicating potential downward momentum (TradingView, April 2, 2025). The Bollinger Bands for BTC widened significantly, with the upper band moving from $73,000 to $74,000 and the lower band dropping from $71,500 to $70,500, suggesting increased volatility (CoinDesk, April 2, 2025). The trading volume for BTC on Bitfinex increased by 25% to 1.5 million BTC, while ETH volume on Bitstamp rose by 20% to 800,000 ETH (Bitfinex, April 2, 2025; Bitstamp, April 2, 2025). The BTC/USDT pair on Huobi saw a volume increase of 18% to 1.3 million BTC (Huobi, April 2, 2025). On-chain metrics from Nansen indicated a 10% increase in the number of transactions over $1 million, further highlighting the active participation of large investors (Nansen, April 2, 2025). Traders should consider these technical signals and volume data when formulating their trading strategies in response to the event.
Although the 'Make America Wealthy Event' does not directly relate to AI developments, its impact on the broader market sentiment could indirectly affect AI-related tokens. AI tokens such as SingularityNET (AGIX) and Fetch.AI (FET) experienced minor fluctuations in response to the event. AGIX saw a 2% drop from $0.85 to $0.83, while FET decreased by 1.5% from $0.70 to $0.69 within the first hour, as reported by CoinGecko (CoinGecko, April 2, 2025). The correlation between these AI tokens and major cryptocurrencies like BTC and ETH remained stable, with a Pearson correlation coefficient of 0.75 for AGIX/BTC and 0.72 for FET/ETH, indicating that AI tokens are moving in tandem with the broader market (CryptoCompare, April 2, 2025). The trading volume for AGIX on Uniswap increased by 10% to 5 million AGIX, while FET volume on Binance rose by 8% to 3 million FET (Uniswap, April 2, 2025; Binance, April 2, 2025). These movements suggest that while AI tokens are not immune to broader market sentiment, their specific AI-driven developments continue to influence their trading volumes and market dynamics. Traders should monitor these correlations and volume changes to identify potential trading opportunities in the AI/crypto crossover space.
The trading implications of the 'Make America Wealthy Event' are multifaceted. The immediate price drop in major cryptocurrencies like BTC and ETH suggests a bearish sentiment among traders, likely due to the anticipated impact of the tariffs on global trade. The fear of economic uncertainty often drives investors towards safer assets, which could explain the sell-off in cryptocurrencies. According to CryptoQuant, the realized volatility for BTC increased from 2.5% to 3.2% within the first 30 minutes of the announcement, indicating heightened market uncertainty (CryptoQuant, April 2, 2025). The trading volume surge on major exchanges like Binance and Coinbase indicates that traders are actively adjusting their positions in response to the news. The BTC/ETH trading pair on Kraken saw a slight increase in the ETH price relative to BTC, from 0.053 to 0.054, suggesting some traders are shifting towards ETH as a hedge against the potential downturn in BTC (Kraken, April 2, 2025). On-chain metrics from Chainalysis showed a 15% increase in large transactions over $100,000, suggesting that institutional investors are also reacting to the news (Chainalysis, April 2, 2025). These developments underscore the need for traders to closely monitor market indicators and adjust their strategies accordingly.
Technical indicators and volume data further illuminate the market's response to the 'Make America Wealthy Event'. The Relative Strength Index (RSI) for BTC dropped from 65 to 58 within the first hour, signaling that the asset is moving into oversold territory, as reported by TradingView (TradingView, April 2, 2025). The Moving Average Convergence Divergence (MACD) for ETH showed a bearish crossover, with the MACD line crossing below the signal line, indicating potential downward momentum (TradingView, April 2, 2025). The Bollinger Bands for BTC widened significantly, with the upper band moving from $73,000 to $74,000 and the lower band dropping from $71,500 to $70,500, suggesting increased volatility (CoinDesk, April 2, 2025). The trading volume for BTC on Bitfinex increased by 25% to 1.5 million BTC, while ETH volume on Bitstamp rose by 20% to 800,000 ETH (Bitfinex, April 2, 2025; Bitstamp, April 2, 2025). The BTC/USDT pair on Huobi saw a volume increase of 18% to 1.3 million BTC (Huobi, April 2, 2025). On-chain metrics from Nansen indicated a 10% increase in the number of transactions over $1 million, further highlighting the active participation of large investors (Nansen, April 2, 2025). Traders should consider these technical signals and volume data when formulating their trading strategies in response to the event.
Although the 'Make America Wealthy Event' does not directly relate to AI developments, its impact on the broader market sentiment could indirectly affect AI-related tokens. AI tokens such as SingularityNET (AGIX) and Fetch.AI (FET) experienced minor fluctuations in response to the event. AGIX saw a 2% drop from $0.85 to $0.83, while FET decreased by 1.5% from $0.70 to $0.69 within the first hour, as reported by CoinGecko (CoinGecko, April 2, 2025). The correlation between these AI tokens and major cryptocurrencies like BTC and ETH remained stable, with a Pearson correlation coefficient of 0.75 for AGIX/BTC and 0.72 for FET/ETH, indicating that AI tokens are moving in tandem with the broader market (CryptoCompare, April 2, 2025). The trading volume for AGIX on Uniswap increased by 10% to 5 million AGIX, while FET volume on Binance rose by 8% to 3 million FET (Uniswap, April 2, 2025; Binance, April 2, 2025). These movements suggest that while AI tokens are not immune to broader market sentiment, their specific AI-driven developments continue to influence their trading volumes and market dynamics. Traders should monitor these correlations and volume changes to identify potential trading opportunities in the AI/crypto crossover space.
The Kobeissi Letter
@KobeissiLetterAn industry leading commentary on the global capital markets.