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Bitcoin faces a major test after China slapped 84% tariffs on imported US goods in retaliation against President Donald Trump’s decision to hike tariffs on Chinese goods to 104%.
China’s tariffs on American goods will come into effect tomorrow, according to a translated announcement by China’s Office of the Tariff Commission of the State Council.
Bitcoin Faces Wave Of Selling Pressure After China Tariffs
Analysts argue that Bitcoin, much like gold, provides investors with a hedge against inflation and macroeconomic volatility.
higher chance bitcoin survives over the dollar in our lifetime after today
first time the thought hit me and didn’t feel like theory but an actual truth to grapple with
— Jeff Park (@dgt10011) April 9, 2025
But the leading crypto’s reputation as “digital gold” is being called into question, with BTC struggling to withstand the tsunami of selling pressure that has hit the global financial markets since Trump launched his tariffs barrage against the world.
A week after Trump announced baseline tariffs on all countries, global stock markets have tumbled, with Google Finance data showing that the S&P 500 Index has plunged over 11%.
The Dow Jones Industrial Average and the Nasdaq Composite have fallen more than 9% and 12%, respectively, during the same period.
Bitcoin has tumbled more than 9% in the same period to trade in the high $70K range, with news of China’s retaliatory tariffs helping push the BTC price down more than 4% in the last 24 hours.
Gold, on the other hand, is trading at record highs.
BTCBULL Might Be The Smarter Bitcoin Play As Trump And Xi Jinping Slug It Out
With no signs that Trump or China’s President Xi Jinping are willing to back down, and BTC’s price starting to buckle under selling pressure, presale token BTC Bull Token (BTCBULL) might be a better bet.
Not only does the meme coin offer investors protection from market swings while it’s in presale, it also will reward its holders with free Bitcoin. The project has set specific price milestones that will either trigger BTC airdrops or BTCBULL token burns.
The first Bitcoin airdrop kicks in when Bitcoin reaches $150K for the first time, and will repeat for every $50K increase in the market leader’s price thereafter.
BTCBULL token burns will be triggered with every $25K increase in Bitcoin’s price, starting at $125K.
The decreasing BTCBULL supply due to token burns, combined with demand from investors looking for free BTC rewards, will put significant upside pressure on the meme coin’s price.
This sentiment is shared by popular YouTube channel 99Bitcoins, which has over 725K subscribers and predicts BTCBULL could soar 10X post-launch.
The BTC Bull Token sells for only $0.002455, giving investors a much cheaper way to gain BTC exposure than buying Bitcoin directly.
Related Articles:
- China Vows To ‘Fight To The End’ On Trump Tariffs
- JPMorgan Says Bitcoin As ‘Digital Gold’ Narrative Under Pressure
- Top Crypto Gainers Today Apr 9
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