Crypto Market Update: As Wall Street Sells Off, Is Bitcoin Showing Strength for the Weeks Ahead?

19 hours ago 1

Thu, Apr 3, 2025, 5:30 AM 5 min read

The Dow Jones Industrial Average fell 1.6%, shedding implicit 700 points. The S&P 500 dropped 2%, and the Nasdaq led the declines with a 2.7% loss. Tech stocks were among the hardest hit, with large players similar Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), and Amazon (NASDAQ: AMZN) suffering hefty declines.

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The merchantability disconnected was triggered successful portion by a hotter-than-expected idiosyncratic depletion expenditures scale report, which showed halfway ostentation rising 0.4% month-over-month and 2.8% year-over-year. This stubborn inflationary inclination remains a interest for the Federal Reserve, which has targeted a 2% ostentation goal.

Further exacerbating marketplace volatility, U.S. user sentiment for March dropped to 57, its lowest speechmaking since November 2022, according to the University of Michigan. Investors besides reacted negatively to escalating commercialized tensions, with President
Donald Trump reaffirming his committedness to tariffs, peculiarly targeting overseas car imports. The Federal Reserve Bank of Atlanta's GDPNow scale forecasted a 2.8% diminution successful U.S. GDP for Q1, raising concerns astir slowing economical growth.

The marketplace rout was widespread, with the S&P 500 falling 1.87% to 5,587.11 points, the Nasdaq dropping 2.51% to 17,357.64 points, and the Dow slipping 1.62% to 41,612.69 points. Interest complaint futures suggest a 76% likelihood that the Fed volition chopped involvement rates by 25 ground points by June, according to CME FedWatch Tool.

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Bitcoin and Crypto Market Performance

Amid Wall Street's downturn, Bitcoin besides faced downward pressure, dropping 3.91% arsenic of writing. The broader altcoin market, including Ethereum, saw an adjacent sharper diminution of 4.75%. While the banal market’s diminution was mostly attributed to ostentation concerns and trade-related uncertainties, the crypto market's driblet reflects broader risk-off sentiment among investors.

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