Market Rollercoaster: Bitcoin Rebounds from Trump Tariff Turmoil
In a dramatic market reversal dubbed ‘Turnaround Tuesday,’ Bitcoin (BTC) demonstrated its notorious volatility by surging nearly 10% from its session lows, while traditional markets also showed remarkable resilience in the face of escalating trade tensions. The initial shock from Trump’s tariff implementation gave way to a strong recovery, highlighting the cryptocurrency market’s increasing correlation with broader risk assets.
Key Market Movements:
- Bitcoin recovered to $88,000, posting a 1.5% gain over 24 hours
- Ethereum remained flat at $2,171, showing relative weakness
- Nasdaq reversed a 2% decline to close up 0.7%
- S&P 500 narrowed losses to just 0.25%
Bitcoin’s 10-Day Price Rollercoaster
The leading cryptocurrency has experienced extreme price swings over the past ten days:
- Feb 21-27: 20% decline to $78,000
- Feb 27-March 1: 20% rally to $95,000
- March 3-4: Sharp pullback to $81,000
Crypto-Related Stocks Show Strength
The recovery in crypto markets has been reflected in related equities:
- MicroStrategy (MSTR): +11%
- Coinbase (COIN): +4%
- Marathon Holdings (MARA): +5%
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Source: CoinDesk