Fate loves Irony (Patreon)
Content
Wish I had good news to sahre.... but alas
Bitcoin has dropped to $81,500 as U.S. stock futures decline ahead of President Trump's "Liberation Day" tariffs set for April 2, which include 25% tariffs on imported cars and potential pharmaceutical tariffs.
Since last week it is clear there is heightened trader anxiety, reflected in Bitcoin’s seventh consecutive day of lower lows and a bearish market outlook. U.S. stock futures, including the Dow (down 206 points) and S&P 500 (down 0.56%), are in the red, with equities poised for monthly losses—S&P 500 down 6.3%, Nasdaq 8.1%, and Dow 5.2%. Contributing factors include weak demand in Bitcoin spot markets, trader derisking, rising inflation (per recent PCE data), and a 12-year low in consumer confidence. Goldman Sachs has increased its 12-month recession odds from 20% to 35%.
Expect an ugly day tomorrow, I will be on the hunt for deals.
Files
Previews only