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Australia rules out strategic crypto reserve, focuses on regulation The Australian government has no plans to establish a strategic crypto reserve, Cointelegraph reported, citing a spokesperson for Australian Assistant Treasurer and Financial Services Minister Stephen Jones. While several U.S. states are exploring the addition of crypto to their balance sheets, Australia’s ruling party remains focused on regulating digital asset platforms. However, the Albanese government acknowledges the potential of blockchain and digital assets to drive economic growth, enhance the financial sector and foster innovation.

U.S. markets fall in intraday trading The Nasdaq index fell 1.55% during the session. The S&P 500 index is currently down 1.07%, and the Dow Jones Industrial Average is down 0.98%.

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According to reports, the tariffs, set to take effect by April 2, 2025, target sectors critical to EU exports, including motor vehicles from Germany and Italy, which face a steep jump from the current 2.5% U.S. duty rate. Trump framed the move as part of his “Fair and Reciprocal Plan,” signed Feb. 13, to align U.S. tariffs with those of trading partners. “They don’t take our cars, our farm products—we’re going to straighten that out,” he said to the press. Bitcoin dropped to an intraday low of $83,337 on Wednesday afternoon. At the time, the EU swiftly condemned the tariffs as “unjustified,” with European Commission President Ursula von der Leyen pledging “firm and immediate” countermeasures. Historical precedents suggest retaliatory tariffs on politically sensitive U.S. goods, such as agricultural products or motorcycles, mirroring actions taken during Trump’s first term. French President Emmanuel Macron urged EU unity, stating the bloc would “make itself respected” if challenged. Economic analyses project significant disruptions. U.S. consumers may face higher prices for imported vehicles, pharmaceuticals, and electronics, potentially reigniting domestic inflation. The tariffs echo Trump’s prior policies during his first tenure, which imposed levies on steel, aluminum, and Chinese goods. While those measures reshaped trade flows with limited macroeconomic fallout, experts warn the latest tariffs could have broader consequences due to the EU’s deep economic integration and reliance on U.S. markets. Heightened anxieties heighten concerns of an extended trade conflict. On Wednesday, the Dow Jones experienced a downturn, while the crypto economy has diminished by 1.22% in the past 24 hours. Bitcoin (BTC) reached a low of $83,337 in the wake of this development. Bitcoin derivatives positions witnessed $165 million in liquidations, with $118 million attributed to long positions. Trump’s tariffs have proven detrimental to bitcoin (BTC) and the broader crypto market. 免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。

BTC has shown some dips in the past week. However, things look decent as the coin’s price is holding steady at $95,000 despite stock indices and exchange-traded funds having taken a considerable dive. BTC was trading just above $96,550 last Saturday, just a day after US equities had one of their worst day in recent history. Nasdaq 100, S&P 500, & SCHD Retreats As per data shared by Nasdaq, the blue-chip S&P 500 took a decent dive by 1.71%. Meanwhile, the Nasdaq 100 fell by 2%, erasing 455 points. Similarly, small-cap-weighted Dow Jones and Russel 2000 fell by 1.70% and 3%, respectively. Schwab US Dividend Equity ETF, known to handle some of the biggest value in stocks, also took a decent beating and is down by 5%. Many technology stocks, including Meta, Microsoft, Apple, and Nvidia, suffered greatly and were some of the lowest-performing stocks. As per CNN, stocks’ fear and greed index hovered near 35. This suggests that there is a sense of fear among investors. As a result, they are looking to minimize losses by liquidating. Even though there is widespread panic in the industry, experts claim that this decline is natural due to the clouds of a trade war looming overhead. However, published market data shows that the Consumer Price Index rose by 3.3% in January, moving further and further away from the target of 2%. BTC Price Stabilizing In other news, BTC and other cryptocurrencies remain unaffected by the upheaval. On the flip side, there are some signs of a BTC price rebound. Weekly charts show that the token is showing some bullish sentiments. At the time of writing, BTC is traded at 96,626.05 with a 0.40% uptrend. While the uptrend percentage might not be great, it is certainly better than before. The price has been showing some traction for the last 24 hours. Therefore, the coin might be recovering. If the token breaks the $98k mark, sources suggest it can reach the $100K mark. This can trigger a strong bullish sentiment that can help BTC recover its ATH price in the coming month(s). The post Nasdaq 100, S&P 500, & SCHD Retreats But BTC Remains Strong appeared first on Coinfomania.