Bitcoin Dives Back Below $80K as U.S.-China Trade Tensions Resurface; Nasdaq Sinks, Gold Breaks Records

Markets whipsawed again Thursday as traders grappled with renewed fears of a deeper trade standoff between the U.S. and China. The risk-off wave hit everything from crypto to tech stocks — except for gold, which soared to new heights.

After staging an 8% rally on Wednesday, Bitcoin (BTC) lost steam and slid 4% to under $80,000, as fresh tariff headlines wiped out bullish momentum. The broader tech space didn’t fare any better — the Nasdaq dropped 5.5%, giving back a chunk of its 12% bounce from the previous session.

Crypto-related equities followed suit:

• MicroStrategy (MSTR) tanked 11.2%
• Coinbase (COIN) fell 8.1%
• Marathon Digital (MARA) dropped 9.3%

Tensions escalated after reports emerged that the actual tariff rate on Chinese goods had jumped to 145%, not the 125% figure touted by President Trump a day earlier. The figure reflects a sudden hike in “reciprocal” tariffs, now at 125%, plus a 20% levy targeting fentanyl-linked imports.

China didn’t stay quiet, hitting back by announcing cuts to American film imports — signaling the economic cold war is back on.

Meanwhile, gold proved its safe-haven status once again, spiking 3% to a new all-time high of $3,168. The DXY (Dollar Index) slipped under 101, marking a complete reversal of its November gains and a 9% slide from January highs.

“We’re in a headline-driven market now,” said Kirill Kretov, senior expert at CoinPanel.
“Every tariff tweak reshapes the macro narrative. If this continues, it could force the Fed into a corner — stuck between inflation pressure and market fragility.”

With policy uncertainty running high and investor nerves fraying, markets are bracing for a volatile stretch ahead.