The circulation of fake news about Donald Trump, the President of the United States, deciding to suspend tariffs for 90 days, drastically changed financial markets for hours, showing that markets are ready for an explosive reaction if such a decision is actually implemented. On April 7, 2025, a verified account on the X platform claimed that the White House intended to stop tariffs for 90 days for all countries except China. This fake news was quickly published by CNBC and then by Reuters, leading to a significant growth in financial markets. Following this news, stock market indices surged, with the S&P 500 growing over 8%, experiencing nearly a 9.5% spike, and the Dow Jones nearing a 7% increase. Meanwhile, the price of Bitcoin (BTC) also crossed the $80,000 mark for moments with a 6.5% growth. However, shortly after, the White House issued an official statement denying this news, stating that no decision had been made. Following this denial, markets again entered a downward trend. In response to these events, prominent cryptocurrency YouTuber Lark Davis stated: ‘This incident clearly showed how thirsty markets are for trade agreements, even temporary and limited ones.’ Hours after deleting the fake post, Trump threatened on the Truth Social platform that if China does not back down by April 8, the U.S. will impose new 50% tariffs starting from April 9. Meanwhile, according to Glassnode data, Bitcoin whales holding over 10,000 BTC are increasing their holdings, while retail investors are selling their assets. From March 11, 2025, until now, these whales have accumulated over 129,000 bitcoins. Additionally, in the past two months, 76 new entities with balances exceeding 1,000 bitcoins have entered the network, indicating a 4.6% increase in the number of whales and showing the hope of large investors for price recovery in the near future.
