Bitcoin Spikes to $80K, Outperforms Traditional Equities as Trade War Tensions Surge – CryptoMode

Bitcoin surged to over $81,000 on Monday before falling back below $79,500 as renewed trade tensions between the U.S. and China rattled markets.

According to data from CoinGecko, BTC is trading at $79,543, a mere change of just 0.8% in the last 24 hours but a decrease of 9.1% in the last two weeks.

The cryptocurrency’s spike and swift retreat reflected broader investor anxiety after U.S. President Donald Trump threatened to impose a 50% tariff on Chinese goods.

The move came in response to Beijing’s 34% retaliatory tariff following last week’s blanket 10% U.S. import tax. If enacted, the total duties on China would reach 104%, a level not seen in recent trade disputes. The White House confirmed the figures, while CNBC reported that Trump issued the warning directly to Chinese officials.

Adding to the confusion, a widely circulated report suggested the White House might delay the tariffs by 90 days—a claim quickly denied by officials. While the rumor was still circulating, asset prices quickly recovered, with BTC surpassing $80,000 again during that period.

The rumor seemingly started on the microblogging platform X and was reposted without being verified. When it reached Washington, it was denied.

This is absolute comedy.

The market was blood red today.

Then, an unattributed rumor was started on X that there was a consideration of 90-day tariff pause.

The market turned green.

Then, 5 minutes later, the White House denied the rumor.

The market became red again. pic.twitter.com/7nbov5WkZr

— unusual_whales (@unusual_whales) April 7, 2025

As soon as the rumors were denied, asset prices reversed once again and started dropping.

Read more: Solana Price Analysis: SOL Dumps Below Critical Support Level

Bitcoin Drops Alongside Global Equities

While BTC dropped back below $79,000, U.S. equities ended up in the red as well, despite recovering from a near 5% drop for the day. The sell-off also affected equities in Europe and Asia, with the Hang Seng Index losing 13.7% of its value.

Over the past week, the Dow Jones Industrial Average and the S&P 500 dropped around 9.5% each, while the tech-heavy Nasdaq lost 9.75% of its value to enter bear market territory. Over the same period, BTC only dropped by 4.4%, while ETH plunged by 12.75%.

Yet, in the last 24-hour period, cryptocurrencies ended mostly in the green, with BTC rising 1.2%, ADA 2.8%, and XRP 0.5%. Ether, which has been significantly underperforming over the last few months, dropped 0.35%.

Crypto prices likely fared better as Trump has repeatedly demonstrated a pro-crypto stance, with the Trump family moving to launch a Bitcoin mining firm.