Overview

• The White House refuted claims that President Trump was considering a 90-day pause on tariffs, calling the report 'fake news.'
• Bitcoin surged from $74,400 to over $80,000 following the false report but quickly retreated, dropping below $75,000 at one point.
• Misinformation spread by misattributed comments, including a Reuters report, amplified market volatility, causing sharp reversals in both crypto and stock markets.
• Actual tariff policies continue to weigh heavily on Bitcoin mining operations, with increased costs from steep tariffs on critical components like Chinese ASIC chips.
• The broader crypto market has suffered significant losses, with Bitcoin down 12% since last week and the total market cap dropping by 9%.