In another addition to the old Wall Street maxim of “buy the rumor, sell the news,” bitcoin (BTC) has headed lower after the U.S. and China announced at least a temporary truce in their trade war.<\/p>\n
Bitcoin had been pumping higher since bottoming just under $75,000 in the days following President Trump’s early April Liberation Day tariff shocker. The price finally again topped $100,000 late last week following an agreement with the UK. China was the gorilla though and BTC nearly reached $106,000 in the early morning hours on Monday after the two countries over the weekend agreed to suspend most tariffs on each other\u2019s goods for 90 days.<\/p>\n
At press time, bitcoin had pulled back to $101,300, lower by 3% over the past 24 hours.<\/p>\n
Stock markets surge<\/p>\n
Buy the rumor, sell the news, however, isn’t applying to U.S. stocks today. Shortly before the close, the Nasdaq is higher by 3.9% and the S&P 500 by 3.1%.<\/p>\n
What gives? No one can know for sure, but bitcoin’s rally from the April bottom \u2014 more than 40% at the peak earlier Monday \u2014 had far surpassed that of the major U.S. averages. Given that bitcoin was easily the more extended asset, the sizable relative underperformance today makes a bit more sense.<\/p>\n
“Bitcoin has been the clear outperformer so far, largely because it remains insulated from tariff-related risks,” Aurelie Barthere, principal research analyst at Nansen, said in a note shared with CoinDesk. “Following the latest Bessent and Greer announcements, I expect altcoins, U.S. equities, and the U.S. dollar, which all underperformed sharply in the first quarter, to begin catching up as the broader risk environment improves.”<\/p>\n
Despite today’s pullback, Kirill Kretov, trading automation expert at CoinPanel, noted that the 90-day tariff pause gave market participants a “clear, short-term positive signal” that’s supportive for risk assets including crypto, even though headwinds could rise again without a broader deal in place once the pause expires.<\/p>\n
“Lower tariffs ease inflationary pressures and improve global liquidity conditions, both of which are typically bullish for BTC and other cryptocurrencies,” he said. “However, keep in mind that this is a temporary arrangement; volatility will likely return as the 90-day window approaches its end.”<\/p>\n","protected":false},"excerpt":{"rendered":"In another addition to the old Wall Street maxim of “buy the rumor, sell the news,” bitcoin (BTC)…\n","protected":false},"author":2,"featured_media":96921,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[2257,51,45302,16,15],"class_list":{"0":"post-96920","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-bitcoin","9":"tag-business","10":"tag-market-wrap","11":"tag-uk","12":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114498223679117059","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/96920","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=96920"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/96920\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/96921"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=96920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=96920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=96920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}