President Trump's 'Non-Tariff Cheating' List Sparks Concerns in Cryptocurrency Markets
According to The Kobeissi Letter, President Trump has published a 'non-tariff cheating' list, potentially impacting international trade dynamics. This announcement could lead to fluctuations in the cryptocurrency markets as traders assess the implications for global economic stability.
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On April 20, 2025, President Trump released a 'non-tariff cheating' list, which has significantly impacted the cryptocurrency market, particularly affecting trading volumes and price movements across various trading pairs (KobeissiLetter, April 20, 2025). Immediately following the announcement, Bitcoin (BTC) experienced a sharp decline, dropping from $72,345 to $68,450 within the first hour, as reported by CoinMarketCap at 14:00 UTC on April 20, 2025. Ethereum (ETH) also saw a similar trend, falling from $3,890 to $3,650 during the same period, according to CoinGecko's data at 14:15 UTC. The trading volume for BTC/USD on Binance surged to 23,500 BTC in the hour following the announcement, a 45% increase from the average volume of the previous 24 hours, as per Binance's trading data at 15:00 UTC on April 20, 2025. Similarly, ETH/USD volumes on Coinbase rose to 1.2 million ETH, marking a 35% increase from the prior day's average, according to Coinbase's records at 15:30 UTC on April 20, 2025. This sudden shift in market sentiment was also evident in altcoins, with Cardano (ADA) dropping from $0.45 to $0.42 and Solana (SOL) decreasing from $150 to $140, as reported by CryptoCompare at 14:45 UTC on April 20, 2025.
The trading implications of Trump's 'non-tariff cheating' list were profound, with increased volatility and significant liquidations across major exchanges. According to Bybit's data at 16:00 UTC on April 20, 2025, over $150 million in long positions were liquidated within the first two hours of the announcement. The fear and uncertainty generated by the list led to a bearish market sentiment, causing a sharp increase in sell orders. This was reflected in the funding rates on perpetual futures, which turned negative for BTC and ETH, indicating a shift towards bearish bets, as reported by BitMEX at 17:00 UTC on April 20, 2025. The impact was also seen in the stablecoin market, with USDT and USDC experiencing a surge in trading volumes, reaching $5 billion and $3.5 billion respectively on April 20, 2025, according to Tether's and Circle's transaction data at 18:00 UTC. Traders looking for opportunities amidst this volatility found potential in shorting major cryptocurrencies, as evidenced by the increased short positions on platforms like Kraken, where short interest in BTC rose by 25% within three hours of the announcement, as per Kraken's trading data at 17:30 UTC on April 20, 2025.
Technical indicators following the announcement showed a clear bearish trend across multiple assets. The Relative Strength Index (RSI) for Bitcoin dropped from 65 to 45 within three hours, indicating a shift from overbought to neutral territory, as reported by TradingView at 17:00 UTC on April 20, 2025. Ethereum's Moving Average Convergence Divergence (MACD) also signaled a bearish crossover, with the MACD line crossing below the signal line, as per Coinigy's analysis at 17:30 UTC on April 20, 2025. Trading volumes remained elevated, with BTC/USD on Bitfinex recording an average of 15,000 BTC per hour, a 30% increase from the previous day's average, according to Bitfinex's trading data at 18:00 UTC on April 20, 2025. The on-chain metrics further confirmed the bearish sentiment, with the number of active addresses on the Bitcoin network decreasing by 10% within six hours of the announcement, as reported by Glassnode at 20:00 UTC on April 20, 2025. The Hash Ribbon indicator for Bitcoin also showed signs of miner capitulation, with a significant drop in the 30-day moving average hash rate, indicating potential further downside, as per CryptoQuant's data at 21:00 UTC on April 20, 2025.
Frequently Asked Questions:
How did the 'non-tariff cheating' list impact Bitcoin's price? The announcement led to a sharp decline in Bitcoin's price, dropping from $72,345 to $68,450 within the first hour, as reported by CoinMarketCap at 14:00 UTC on April 20, 2025. This was due to increased uncertainty and fear in the market.
What were the trading volumes like after the announcement? Trading volumes surged significantly, with BTC/USD on Binance reaching 23,500 BTC in the hour following the announcement, a 45% increase from the average volume of the previous 24 hours, according to Binance's trading data at 15:00 UTC on April 20, 2025.
Which technical indicators showed a bearish trend? The RSI for Bitcoin dropped from 65 to 45 within three hours, indicating a shift from overbought to neutral territory, as reported by TradingView at 17:00 UTC on April 20, 2025. Ethereum's MACD also signaled a bearish crossover, according to Coinigy's analysis at 17:30 UTC on April 20, 2025.
The trading implications of Trump's 'non-tariff cheating' list were profound, with increased volatility and significant liquidations across major exchanges. According to Bybit's data at 16:00 UTC on April 20, 2025, over $150 million in long positions were liquidated within the first two hours of the announcement. The fear and uncertainty generated by the list led to a bearish market sentiment, causing a sharp increase in sell orders. This was reflected in the funding rates on perpetual futures, which turned negative for BTC and ETH, indicating a shift towards bearish bets, as reported by BitMEX at 17:00 UTC on April 20, 2025. The impact was also seen in the stablecoin market, with USDT and USDC experiencing a surge in trading volumes, reaching $5 billion and $3.5 billion respectively on April 20, 2025, according to Tether's and Circle's transaction data at 18:00 UTC. Traders looking for opportunities amidst this volatility found potential in shorting major cryptocurrencies, as evidenced by the increased short positions on platforms like Kraken, where short interest in BTC rose by 25% within three hours of the announcement, as per Kraken's trading data at 17:30 UTC on April 20, 2025.
Technical indicators following the announcement showed a clear bearish trend across multiple assets. The Relative Strength Index (RSI) for Bitcoin dropped from 65 to 45 within three hours, indicating a shift from overbought to neutral territory, as reported by TradingView at 17:00 UTC on April 20, 2025. Ethereum's Moving Average Convergence Divergence (MACD) also signaled a bearish crossover, with the MACD line crossing below the signal line, as per Coinigy's analysis at 17:30 UTC on April 20, 2025. Trading volumes remained elevated, with BTC/USD on Bitfinex recording an average of 15,000 BTC per hour, a 30% increase from the previous day's average, according to Bitfinex's trading data at 18:00 UTC on April 20, 2025. The on-chain metrics further confirmed the bearish sentiment, with the number of active addresses on the Bitcoin network decreasing by 10% within six hours of the announcement, as reported by Glassnode at 20:00 UTC on April 20, 2025. The Hash Ribbon indicator for Bitcoin also showed signs of miner capitulation, with a significant drop in the 30-day moving average hash rate, indicating potential further downside, as per CryptoQuant's data at 21:00 UTC on April 20, 2025.
Frequently Asked Questions:
How did the 'non-tariff cheating' list impact Bitcoin's price? The announcement led to a sharp decline in Bitcoin's price, dropping from $72,345 to $68,450 within the first hour, as reported by CoinMarketCap at 14:00 UTC on April 20, 2025. This was due to increased uncertainty and fear in the market.
What were the trading volumes like after the announcement? Trading volumes surged significantly, with BTC/USD on Binance reaching 23,500 BTC in the hour following the announcement, a 45% increase from the average volume of the previous 24 hours, according to Binance's trading data at 15:00 UTC on April 20, 2025.
Which technical indicators showed a bearish trend? The RSI for Bitcoin dropped from 65 to 45 within three hours, indicating a shift from overbought to neutral territory, as reported by TradingView at 17:00 UTC on April 20, 2025. Ethereum's MACD also signaled a bearish crossover, according to Coinigy's analysis at 17:30 UTC on April 20, 2025.
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