Another Day Another Dive!
Right then darlings! Lara Croft here reporting live from… well my manor actually. But the news is coming to *me* today! Seems Bitcoin's decided to go for a bit of a subterranean adventure plummeting below $79,000. Honestly it's like watching one of my dives – exhilarating but you're never quite sure what you'll find at the bottom. Is it a lost relic or just more digital dust? This drop comes as U.S. equities suffered their worst decline since 2020 all thanks to President Trump's… let's call them 'ambitious' global tariffs. As my old friend Winston would say 'Bit of a pickle Miss Croft.'
Big Tech Big Trouble?
Now Bitcoin usually fancies itself a high tech stock all sleek and modern. A sort of digital Aston Martin. Apparently it's been trading above $80,000 for most of the year but I am never surprised to see a little bit of volatility. Last week though things got a bit dicey. The broader market took a nosedive but Bitcoin held steady between $82,000 and $83,000. It was like watching a tightrope walker in a hurricane. Other cryptocurrencies however weren't so lucky. Ether and Solana's tokens got walloped each tumbling about 10%. Ouch! That's gotta hurt. I have certainly seen worse.
Long Liquidations: Sounds Nasty!
This Bitcoin dip it seems triggered something called 'long liquidations.' Sounds like some ancient curse doesn't it? But it's basically traders betting on Bitcoin going up having to sell their assets to cover losses. Over the past 24 hours we're talking about $181 million in Bitcoin liquidations and $188 million in Ether liquidations. It is like a domino effect that is bound to topple. If you are going to play the game you have to learn how to play it well. And remember darlings 'the harder the climb the more rewarding the view.'... or in this case the less!
Tariff Trauma: A Recession on the Horizon?
So what's the big fuss? Well these tariffs have sparked fears of a global trade war. A trade war you say? More like a financial bloodbath! Investors are dumping risky assets like it's going out of style anticipating even more market chaos. And don't even get me started on the growing concerns of a potential recession. All this over some tariffs! Can you believe it? 'I make my own luck.' So maybe it is time to make your own!
Trillions Lost: More Than I've Found!
The numbers are staggering. In the two sessions following the tariff announcement global stocks lost a staggering $7.46 trillion in market value. That includes $5.87 trillion lost in the U.S. stock market alone! I've raided tombs with less damage. Bitcoin is down 15% this year. This is not just a walk in the park. This is a whole expedition that we are undertaking. Hopefully we will survive it to tell the tale.
Crypto's Future: Crystal Ball Required!
So what does the future hold for Bitcoin? Well absent a crypto specific miracle it's likely to keep dancing with the equities market waltzing into the sunset of this global recession fear. All those regulatory tailwinds everyone was so excited about? Overshadowed. As my dear friend Zip would say 'Oh dear Miss Croft this looks rather… problematic.' Indeed. But as I always say 'We all make choices. But in the end our choices make us.' Let's hope these investors made wise ones. Ta ta for now!
Bitcoin cryptocurrency market crash Donald Trump tariffs global recession investments ether Solana long liquidations
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akuseru
I miss the good old days when Bitcoin was simple.
hecthorboo
Maybe we should all invest in gold instead?
shaundunne
Anyone got tips on shorting Ether?
Julia B
Lara Croft knows her stuff! I'm selling everything!
cinnabunch
Thanks Lara, I needed a good laugh during this financial crisis!
nmurray108
I blame the millennials!
brownskin
Trump's tariffs are going to ruin us all.
looney
This is the perfect opportunity to buy low. I'm loading up!
Amartinez
Lara Croft should stick to raiding tombs and leave finance to the experts.
kellyvbrown
This is just a temporary dip, buy the dip people!