Real Vision: Finance & Investing
Bitcoin Crashes, Stocks Tumble & Trump’s Tariff Threats Shake Markets: PALvatar Market Recap - February 28, 2025
Feb 28, 2025
Bitcoin has plunged below $80,000, hitting its worst month since June 2022, while global stocks have also taken a sharp downturn. The S&P 500 has wiped out its yearly gains, and even strong earnings from Nvidia couldn’t uplift the market. Trump’s aggressive tariff announcements on China, Mexico, and Canada are adding to the economic uncertainty. Weak U.S. economic data, including a spike in jobless claims, raises further concerns about inflation. It's a chaotic time for traders and investors navigating this volatile landscape.
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Quick takeaways
- Bitcoin's decline below $80,000 highlights a concerning trend for cryptocurrencies, although altcoins have not significantly underperformed in comparison.
- Global stock markets are under pressure due to Trump's tariff threats and rising jobless claims, erasing year-to-date gains for major indices like the S&P 500.
Deep dives
Bitcoin's Significant Decline
Bitcoin has experienced a notable decline, dropping below $80,000 for the first time since the market surge following the election. February is shaping up to be particularly detrimental for Bitcoin, marking its worst performance since June 2022. While this drop is concerning, the altcoin market has mirrored Bitcoin's losses rather than exceeding them, which often occurs during a Bitcoin downturn. This development suggests a more stable relation between Bitcoin and altcoins amid the recent market volatility.
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