Bitcoin is over the moon about tariff delay, Strategy spikes too

Bitcoin soared on President Donald Trump’s announcement of a 90-day tariff pause on most countries. Bitcoin’s started the day at about $76,000 and has jumped to over $82,000 following Trump’s post.

Michael Saylor, CEO of bitcoin holding company Strategy, immediately posted: “Bitcoin is the Best Idea. There is no Second Best.” The company’s stock was up a staggering 22% after the announcement.

Bitcoin has been decoupling and recoupling with risk assets in the past few days. Many started the week wondering if bitcoin would sink to preelection levels. (It was at roughly $68,000 on November 4.) Now, some are wondering if it could reach $90,000 by the end of the day.

#BITCOIN IS RIPPING 🚀

$90,000 BY THE END OF TODAY??? pic.twitter.com/TXiglAj8ep
— Vivek⚡️ (@Vivek4real_) April 9, 2025

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Yaël Bizouati-Kennedy

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Legendary short seller James Chanos on the problem with Strategy’s business model

The noise has grown louder about Strategy being in trouble, but most experts think Strategy can weather the current bitcoin downturn, though one critic predicts this is “the beginning of the end.”

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Sage D. Young

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Ethereum spot ETFs post highest monthly outflow of $1.4 billion in November, breaking seven-month streak

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Bitcoin off to a “violent” December

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What will happen if bitcoin and ethereum hit key liquidation levels

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BlackRock’s IBIT on track for its worst month of net outflows, as investors yank $2.3 billion from the bitcoin ETF in November

BlackRock’s iShares Bitcoin Trust ETF, the world’s largest bitcoin fund, is heading for its worst month of outflows since it launched in January 2024.

Investors have pulled over $2.3 billion (net) throughout November so far. The jitters come as bitcoin grapples with its worst downturn since 2022, when the entire crypto world shook following the fall of Sam Bankman-Fried’s FTX — bitcoin has dropped more than 40% from its October high as of Monday’s close.

With their soaring popularity redefining and legitimizing cryptocurrencies at an institutional level, spot bitcoin ETFs have become a key barometer of wider investor sentiment surrounding the digital currency — as well as risk assets more broadly.

Notably, spot bitcoin ETFs like BlackRock’s iShares Bitcoin Trust tend to see their inflows accelerate with rising prices, and amplify falling prices when outflows become dominant. Citi Research, cited by Bloomberg, found that this feedback loop sees a ~3.4% price drop for every $1 billion pulled out from bitcoin ETFs.

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