According to ChainCatcher, QCP Capital announced in its official channel that Trump declared a 10% tariff on all imported goods on Wednesday and introduced a "reciprocal tariff" policy targeting countries with significant trade deficits with the United States, reigniting global trade tensions.
As a result:
BTC dropped from its daily high of $88,500 to $81,200, a decline of over 8%
The cryptocurrency market experienced massive liquidations, with long positions liquidated for over $221 million
US stock futures plummeted, with Nasdaq futures falling 4.28% and S&P 500 futures dropping 3.38%
Consumer stocks with high supply chain exposure were hit hard, with American Eagle plunging 17.47%
The market is now focusing on the upcoming non-farm employment report. Under expectations of economic slowdown, the market anticipates the Federal Reserve will implement four rate cuts in 2025, each by 25 basis points in June, July, September, and December.
In the options market, short-term volatility remains high, with increased demand for downside protection, reflecting cautious market sentiment. However, analysts believe that with risk assets generally oversold, a short-term rebound is possible.
