Mad Money TV host Jim Cramer has made it to the spotlight again, lashing out on Donald Trumpโs recently imposed tariffs on foreign trade. โThe numbers did not make any senseโ, the chart that they had with the mathematical equation โare you kidding me?โ, – commented the notoriously wrong financial expert during his feature on CNN today.
โI feel like a sucker, because Iโm not a free trader. He screwed up in an ill-advised way. This is what they came up with? Have some mathโ, – exasperates Jim Cramer.
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Known as Inverse Cramer due to his wrong predictions on crypto, the financial adviser explained that Israel and Vietnam chose to cut their tariffs in favor of the United States, but still got super high tariffs in response, ranging from 17% to 46%, respectively.
In retaliation, the Chinese government has already imposed a 34% tariff on all goods imported from the United States. The famed Mad Money host explained that this might be the end of it, as the Dow Jones Industrial Average has already dumped over 1,600 points, hitting a 5-year low. However, Jim Cramerโs concerns could restore some optimism among crypto bros.
Bitcoin Price Takes On $84,600: Can It Hold?
Bitcoinโs (BTC) price seesaw on Friday had the flagship digital asset trading in a wide range between $81,332 and $84,630, according to CoinGecko independent price aggregator. With a 7% monthly price drop, the king crypto is still holding relatively well in comparison to the stock market.
Retesting $84,600 this afternoon, Bitcoin (BTC) could find its foot above this range, as buying orders currently outweigh BTC sales by nearly $2 billion on Spot markets. This comes just two days after Bitcoinโs price briefly rose to $87,000, but lost the resistance level right after the U.S. President Donald Trumpโs announcement on reciprocal tariffs across the globe.
Meanwhile, leveraged crypto traders are having mixed opinions about where Bitcoinโs price is going next. Out of $87 million in BTC liquidations over the past 24 hours, $45 million were longs, while $42 million short-sellers also got REKT. Overall, unsettled plays on Bitcoinโs future price stand at a hefty $52 billion, testified by the Open Interest (OI) metric and the 7-day funding rate high.
On The Flipside
- 86% of current Bitcoin holders are making a profit at this BTC price despite the 7% monthly dip, while the yearly yield stands at 23%, trailing gold this year by 4%.
- Due to Trumpโs newly-imposed tariffs restricting global trade, 73% of voters in a Polymarket poll expect Bitcoin to plummet below $70,000 by the end of 2025.
Why This Matters
The global trade tariffs imposed by President Donald Trump has definitely shifted the sentiment across crypto & stock markets, as the crypto fear & greed index shows that market participants returned from a neutral stance to fear.
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