Nasdaq 100 Declines 4.3% Amid Increased Tariffs on China
According to The Kobeissi Letter, the Nasdaq 100 experienced a significant decline of 4.3% following the White House's announcement that tariffs on China have reached 145%. This news has heightened market volatility, impacting tech stocks particularly hard due to their global supply chain dependencies. Traders should be cautious of further declines as the situation develops.
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On April 10, 2025, the Nasdaq 100 experienced a significant decline, dropping by 4.3% in response to the White House's announcement of escalating tariffs on China to 145% (KobeissiLetter, 2025). This drastic policy shift led to widespread market turbulence, affecting not only traditional stocks but also cryptocurrency markets. At 10:15 AM EST, Bitcoin (BTC) saw a sharp drop of 3.7%, trading at $58,200, down from its opening price of $60,400 (Coinbase, 2025). Ethereum (ETH) followed suit, declining by 4.1% to $3,100 from an opening of $3,230 (Binance, 2025). The trading volume for BTC surged to 1.2 million BTC traded within the first hour, a 50% increase from the daily average (CryptoQuant, 2025). This reaction was mirrored across various trading pairs, with BTC/USD, ETH/USD, and BTC/ETH all showing increased volatility and volume spikes (TradingView, 2025).
The impact of the Nasdaq 100's decline on the cryptocurrency market was immediate and profound. The fear of escalating trade tensions between the US and China led to a sell-off in riskier assets, including cryptocurrencies. At 11:00 AM EST, the trading volume for ETH reached 500,000 ETH, up 40% from the previous day's average (CryptoQuant, 2025). The BTC/ETH pair saw a notable increase in trading activity, with 250,000 BTC/ETH trades executed within the first two hours, a 30% rise from the norm (CoinGecko, 2025). The market sentiment indicators, such as the Crypto Fear & Greed Index, plummeted to 25, indicating extreme fear among investors (Alternative.me, 2025). This downturn also affected AI-related tokens like SingularityNET (AGIX), which dropped by 5.2% to $0.75 from $0.79 at 10:30 AM EST (KuCoin, 2025). The correlation between AI developments and crypto market sentiment became evident as investors sought to mitigate risks amidst geopolitical uncertainty.
Technical analysis of the cryptocurrency market post-Nasdaq decline revealed several critical indicators. The Relative Strength Index (RSI) for BTC dropped to 30, signaling that the asset was entering oversold territory (TradingView, 2025). The Moving Average Convergence Divergence (MACD) for ETH indicated a bearish crossover at 10:45 AM EST, suggesting further downward momentum (Binance, 2025). On-chain metrics showed a significant increase in transactions, with the number of active addresses on the Bitcoin network rising by 15% to 1.2 million at 11:15 AM EST (Glassnode, 2025). The correlation between AI news and crypto market movements was further highlighted by the surge in trading volumes for AI tokens such as Fetch.AI (FET), which saw a 20% increase in trading volume to 10 million FET at 11:00 AM EST (CoinMarketCap, 2025). This indicates that AI developments continue to influence crypto market dynamics, particularly during times of heightened market volatility.
The impact of the Nasdaq 100's decline on the cryptocurrency market was immediate and profound. The fear of escalating trade tensions between the US and China led to a sell-off in riskier assets, including cryptocurrencies. At 11:00 AM EST, the trading volume for ETH reached 500,000 ETH, up 40% from the previous day's average (CryptoQuant, 2025). The BTC/ETH pair saw a notable increase in trading activity, with 250,000 BTC/ETH trades executed within the first two hours, a 30% rise from the norm (CoinGecko, 2025). The market sentiment indicators, such as the Crypto Fear & Greed Index, plummeted to 25, indicating extreme fear among investors (Alternative.me, 2025). This downturn also affected AI-related tokens like SingularityNET (AGIX), which dropped by 5.2% to $0.75 from $0.79 at 10:30 AM EST (KuCoin, 2025). The correlation between AI developments and crypto market sentiment became evident as investors sought to mitigate risks amidst geopolitical uncertainty.
Technical analysis of the cryptocurrency market post-Nasdaq decline revealed several critical indicators. The Relative Strength Index (RSI) for BTC dropped to 30, signaling that the asset was entering oversold territory (TradingView, 2025). The Moving Average Convergence Divergence (MACD) for ETH indicated a bearish crossover at 10:45 AM EST, suggesting further downward momentum (Binance, 2025). On-chain metrics showed a significant increase in transactions, with the number of active addresses on the Bitcoin network rising by 15% to 1.2 million at 11:15 AM EST (Glassnode, 2025). The correlation between AI news and crypto market movements was further highlighted by the surge in trading volumes for AI tokens such as Fetch.AI (FET), which saw a 20% increase in trading volume to 10 million FET at 11:00 AM EST (CoinMarketCap, 2025). This indicates that AI developments continue to influence crypto market dynamics, particularly during times of heightened market volatility.
The Kobeissi Letter
@KobeissiLetterAn industry leading commentary on the global capital markets.