Notcoin (NOT) price has plunged over 12% as Bitcoin drops below $77,000 after a brief resilience following US retaliatory tariffs announced by President Donald Trump on ‘Liberation Day.’

This dramatic decline underscores the fragility of smaller cryptocurrencies amid a turbulent economic landscape.

Bitcoin, a dominant force in the crypto market, fell to a three-week low of $76,693.20 on April 7, 2025, pulling altcoins like Ethereum (ETH), Solana (SOL), XRP, and Notcoin (NOT) down with it.

Notcoin suffers as Trump’s tariffs disrupt the crypto market

The catalyst for today’s downturn traces back to April 2, 2025, dubbed ‘Liberation Day,’ when Trump unveiled sweeping tariffs aimed at nearly 200 US trading partners, igniting fears of a global trade war.

The tariffs, a cornerstone of Trump’s economic agenda, impose a baseline 10% duty on most imports, with steeper rates for specific nations—34% on Chinese goods and 20% on European Union products.

Designed to correct trade imbalances, these measures instead unleashed chaos across financial markets.

US stock futures cratered, with Nasdaq 100 contracts tumbling 5%, while global indices followed suit.

Asian markets plummeted as Japan’s Nikkei 225 shed 6%, and South Korea’s Kospi dropped 4.4%.

This widespread sell-off in traditional markets has spilled over into cryptocurrencies, erasing Bitcoin’s brief post-tariff stability and dragging the broader crypto ecosystem into a tailspin.

Notcoin, trading at $0.001748 as of April 6, 2025, has borne the brunt of this volatility. Its all-time high of $0.02836, hit on June 2, 2024, contrasts sharply with its recent low of $0.001688 on April 7, 2025—a 93.9% drop from its peak.

This steep fall highlights Notcoin’s vulnerability as a smaller-cap cryptocurrency, prone to exaggerated price swings when market sentiment sours.

Is a crypto winter on the horizon?

The economic fallout from the tariffs extends beyond immediate market reactions. Businesses face higher costs, which could fuel inflation, while consumers brace for pricier goods.

Hedge fund titan Bill Ackman has warned of an “economic nuclear winter” if these policies persist, citing irreparable damage to US global credibility.

In this climate of uncertainty, investors have fled riskier assets, with the Crypto Fear & Greed Index plunging to 17, signaling “extreme fear.”

On April 6, the crypto market saw $778 million in long positions liquidated in a single day, the largest such event in six weeks.

Over the past 24 hours, 327,264 traders have been liquidated, bringing the total liquidations to $1.02 billion according to Coinglass data.

Notably, Bitcoin’s decline has amplified the pressure on altcoins.

Ethereum, today, hit a low of $1,538, its lowest since October 2023, while Solana dropped to $107.

Notcoin, lacking Bitcoin’s robust institutional backing or market depth, has suffered disproportionately. Its 23.6% loss over the past week and 25.9% decline over the past month reflect a market in retreat, with traders favoring cash or safer havens over speculative tokens.

Arthur Hayes believes the instability could bolster crypto

BitMEX co-founder Arthur Hayes argues that prolonged economic instability could eventually bolster Bitcoin’s appeal as a decentralized hedge against centralized policies.

Freshly pardoned by Trump for past financial violations, Hayes envisions a scenario where investors seek refuge in Bitcoin (BTC), potentially lifting the broader crypto market.

For now, though, such optimism remains distant as BTC teeters near $76,000, with analysts like Charles Edwards cautioning of a possible dip to $71,000 if support levels falter.

The tariffs’ long-term implications loom large. If they spark sustained inflation or a global slowdown, the Federal Reserve may face pressure to adjust monetary policy, perhaps adopting a dovish stance that could buoy risk assets.

Conversely, persistent trade tensions might deepen the downturn, keeping cryptocurrencies under strain.

Notcoin, emblematic of altcoins’ struggles, stands at a crossroads, its fate tied to both Bitcoin’s trajectory and the unfolding economic narrative.

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China’s decision to impose a 34% tariff on all goods imported from the United States is a direct retaliation against President Donald Trump’s tariffs on Chinese goods. 

This escalation of the trade war between the world’s two largest economies is expected to have significant consequences for various industries in both countries, according to a Reuters report.

In the aviation sector, for instance, US companies like Boeing could see a decline in sales to Chinese airlines, which may opt for alternative suppliers like Airbus. 

The agriculture industry will also be hard hit, as US farmers will find it more difficult to export their products to China, a major market for soybeans, pork, and other agricultural commodities. 

This could lead to lower prices for US farmers and financial hardship for many in the agricultural sector.

Beyond aviation and agriculture, the tariffs will likely impact a wide range of industries, including manufacturing, technology, and retail. 

US companies that rely on Chinese suppliers for components or finished products may see their costs increase, leading to higher prices for consumers or lower profits for businesses. 

Chinese companies that export to the US will also face challenges, as their products become more expensive for American buyers. This could lead to decreased demand and job losses in China.

Planes

Boeing will be significantly impacted by China’s retaliatory tariffs, which will make its planes considerably more expensive than those offered by competitors Airbus and Commercial Aircraft Corporation of China (COMAC).

Sales and deliveries of Boeing to China fell sharply after 2019 due to two fatal MAX 8 jet crashes and escalating US-China tensions over technology and national security, despite Beijing not imposing tariffs on Boeing during the initial US-China trade war.

The import freeze, which ended in January 2024, didn’t see a full resumption of imports until six months later.

Air China, China Eastern Airlines, and China Southern Airlines, the three biggest airlines in the country, had planned to receive 45, 53, and 81 Boeing airplanes, respectively, between 2025 and 2027. 

However, these plans may now be affected by the increased prices, according to the report.

Semiconductors

Intel assembled CPUs, which are widely used in laptops and servers, make up $8 billion of the $10 billion worth of chips that China imports from the United States annually, according to Bernstein analysts. 

In 2024, China was Intel’s largest market, generating 29% of its revenue, compared to 27% in 2023.

Additionally, Micron, a US memory chip manufacturer, may be affected by potential tariffs due to importing some of its chips sold in China from the United States. 

Although Micron has production facilities in China and other countries, the impact remains uncertain.

In contrast, NVIDIA’s AI chips, which are also in high demand by Chinese companies, remain unaffected by the tariffs.

This is because they are produced and assembled in Taiwan by TSMC.

Agriculture and farm equipment

The US agricultural sector will be worst hit by Beijing’s retaliatory tariffs, as China is the largest market for American agricultural products.

China has suspended import qualifications for sorghum from Chinese-owned C&D (USA) Inc., citing food safety problems. 

Additionally, poultry meat and bone meal from American Proteins, Mountaire Farms of Delaware and Darling Ingredients were also suspended.

Poultry products from Mountaire Farms of Delaware and Coastal Processing were also included in the import suspension.

Furthermore, China’s retaliatory tariffs of 34%, added to an earlier 10% tariff placed on the US farm equipment sector in March, now total 44%.

These tariffs impact companies such as Caterpillar, Deere & Co, and AGCO.

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The Trump administration is not using tariffs for short-term gain or to signal campaign strength.

This time, tariffs are the opening move in a long-term strategy to rewire global trade and build a new economic order.

As Treasury Secretary Scott Bessent puts it:

“Tariffs have begun the process of reorienting our international economic relations.”

But these policies have shocked global markets and confused even America’s closest allies.

Many assume it’s a political theater; or economic chaos. But is there a real plan behind the noise? And does that plan even make sense?

The why

Here are the facts: The US economy remains the world’s largest. Its stock market makes up approximately 50% of global markets.

And most importantly, the dollar is still the global reserve currency. 

However, what concerns the current administration is the deep industrial decline of the United States.

Manufacturing made up 28% of US output in the 1950, while today, it’s just below 11%.

Even though most economists argue that the US is now a “service exporter” and that is the reason why its economy is now the largest, the current administration thinks otherwise.

Bessent and Trump’s top economic advisor, Steven Miran, argue that deindustrialization is a national security threat. In the event of a war, civilian industrial capacity is critical.

China’s shipbuilding capacity is now larger than the rest of the world combined.

According to US Vice President J.D. Vance, one of China’s state-owned firms built more commercial ships in 2023 than the US has since World War II.

With the worries of a potential China – Taiwan war rising every year, the US now wants to become the leader in industrial production and

How did we get here?

So why is the US all suddenly against the world trading system that they, themselves have built?

To understand the logic of the Trump administration’s economic worldview, we need to go back to the systems the US created after World War II.

The Bretton Woods agreement of 1944 tied global currencies to the dollar, which itself was pegged to gold. 

The US offered security guarantees, military bases, and market access to allies in exchange for loyalty and currency stability.

This created the postwar economic and security order. The dollar became the foundation of global finance.

The US provided Marshall Plan aid to rebuild Europe and gave its allies advantages in global trade to contain communism.

In 1971, President Nixon ended gold convertibility, and by the 1980s, the US shifted into what became known as the neoliberal order.

Markets were opened, tariffs fell, capital flowed across borders, and the dollar floated freely. 

Reagan’s presidency coincided with the Plaza Accord of 1985, where the US and its allies coordinated to lower the dollar’s value to correct trade imbalances.

This system made the dollar stronger than ever and helped the US finance its military and consumer-driven economy. But it also made domestic manufacturing more expensive. 

As a result, jobs moved to countries like China and Mexico. After China joined the WTO in 2001, the “China shock” wiped out millions of American industrial jobs.

A caveat here is that US manufacturers and large corporations themselves decided to outsource those jobs in exchange for higher profit margins, something that is often omitted from recent conversations. 

Nevertheless, the neoliberal model worked for capital and consumers but hollowed out the industrial workforce. That created the conditions for Trump’s first campaign and trade war in 2016.

What came after the first trade war?

Trump’s first trade war focused on China. It raised tariffs but did not reverse the industrial decline.

China retaliated, raised its own tariffs, and shifted exports to partners like Vietnam and Mexico. By the end of it, average Chinese tariffs on the US remained higher than the other way around.

Biden took a different path. His administration used large subsidies to try to reshore industries, especially in semiconductors and clean energy. 

The CHIPS and Science Act and the Inflation Reduction Act provided hundreds of billions in tax incentives.

Research from the Peterson Institute for International Economics (PIIE) estimates that the CHIPS Act alone catalyzed over $110 billion in real investment, making it the most successful industrial policy of its kind in decades. 

Attempts to scrap the legislation, as suggested by Trump, could undercut this momentum and shake investor confidence in future US-led industrial policy.

But Biden’s approach also ran into limits. High deficits, slow permitting, and continued reliance on foreign inputs made the results slower than hoped.

This gave Trump’s team the opening to offer an alternative.

Is there a long-term MAGA masterplan?

According to Miran’s papers and Bessent’s speeches, Trump’s team is working toward a three-part global trade redesign.

This is not just about tariffs. It is about resetting the entire post-1980s economic framework while keeping the dollar as the world’s reserve currency.

Although, it should be noted here that this is speculative and only based on the information that has been made public so far by the administration. 

Step one is what we see now: tariff chaos. Tariffs are being used not just to punish but to signal leverage.

Miran has written that these measures build negotiating power, especially when used universally. 

By targeting both allies and adversaries, the US forces everyone to the table.

As Bessent puts it, “tariffs have become a third leg of American power, alongside finance and the military”.

Step two is what they call “reciprocal tariffs.” This would end what the Trump team sees as “systemic trade asymmetries”. 

Many countries, especially developing ones, have long had higher tariffs on US goods while exporting freely into the US market. The new model would set equal tariff levels for both sides.

The idea is to reward countries that value rule of law, fair currency practices, and open markets’ not those that supposedly suppress wages or rely on state subsidies.

Step three is the most speculative but also the most ambitious. Trump’s team hopes to reach what some are already calling a Mar-a-Lago Accord. 

The goal would be to establish a new set of global monetary relationships.

In this system, “green” countries would peg their currencies to the dollar. In return, they would get low tariffs, security guarantees, and continued access to the dollar system. 

But they would also need to contribute financially and politically. Essentially, they would become subordinate economic allies.

This mirrors the logic of Bretton Woods without the gold peg. Instead of formal alliances based on Cold War logic, this would be a hierarchy of trade and currency alignment. Countries that agree get favorable treatment. Others are left behind. 

The Trump team believes this is the only way to re-industrialize the US while preserving the dollar’s reserve currency status.

Miran has acknowledged the contradiction at the heart of the plan. A strong dollar hurts exports. A weaker dollar risks its reserve status. 

His proposal is to manage this through coordinated currency accords.

He even floated the idea of charging countries to use the dollar, although that would be very unlikely. 

What is clear is that the Trump team sees the current system as unsalvageable.

They believe the only way forward is to dismantle it piece by piece, and rebuild a system that works for American power, not just American capital.

Final thoughts

The ‘MAGA masterplan’ is more risky than bold. It attempts to rebuild a US-centered global order by leveraging advantages the country gained as a postwar superpower. 

But the world has changed. Allies are less willing to follow Washington’s lead without question, and rivals are more economically self-reliant than ever. 

Reindustrialization and dollar dominance may be worthy goals, but forcing them through tariffs and hardline tactics could backfire if no one else wants to play along.

So far, the backlash has been huge. Everyone considers this to be a “loser’s game” and the blowback in global markets is more than evident. 

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Global stock markets plunged on Monday, deepening last week’s heavy losses, as escalating trade tensions triggered renewed fears of a worldwide recession.

London’s FTSE 100 bore the brunt, falling by 488 points, or 6%, to 7566 — its lowest level since February 2024.

The fresh rout eclipsed even Friday’s near-5% slide, which followed China’s retaliation against US tariffs with levies of its own.

The mood among investors darkened further over the weekend, as President Donald Trump defended his aggressive tariff policy, calling it “medicine” for the economy.

Every share in the FTSE 100 index ended in negative territory, with industrial stalwart Rolls-Royce slumping by 13%.

Miners, banks, and investment firms also found themselves at the sharp end of the sell-off, reflecting broad-based concerns about the global economic outlook.

Barclays and Lloyds shares plunge as banks and commodities hit hard

The banking sector, already under pressure from expectations of lower interest rates, saw some of the steepest falls.

Barclays dropped by 7%, Lloyds Banking Group slipped 5%, and NatWest shed 7%.

Asia-focused lenders were similarly battered, with HSBC down 5% and Standard Chartered tumbling 7%.

Commodities were not spared. Mining giants Glencore and Anglo American each saw losses of 7% and 8%, respectively.

Energy stocks followed suit as Brent crude oil prices fell below $64 per barrel, dragging BP and Shell down by 7%.

Kathleen Brooks, research director at XTB, remarked that markets are searching for definitive action rather than rhetoric.

“The best panacea for financial markets right now would be a pause or reversal from the US on its tariff programme,” she said.

DAX plunges 10% as Europe and Asia slide

The turmoil spread across Europe, where Germany’s DAX index plunged 10% in early trading, France’s CAC lost 6.6%, and Italy’s FTSE MIB fell 5.7%.

The regional Stoxx 600, already reeling from its worst week in five years, slid further into negative territory.

In Asia, stocks continued to bleed, with China at the forefront of the sell-off.

Trump’s sweeping tariffs hit not only China with 34% duties but also extended to Vietnam, Cambodia, and Sri Lanka, compounding fears for global supply chains.

Richard Hunter, head of markets at Interactive Investor, said, “China is clearly in the mood for the fight, and with the world’s two largest economies at loggerheads, the result has been ugly for investors.

On Wall Street, investors braced for further volatility after the “Magnificent Seven” tech giants saw a staggering $1 trillion in market value erased in just one day last week.

Despite the market carnage, President Trump remains resolute.

Speaking to reporters on Sunday, he insisted, “Sometimes you have to take medicine to fix something,” suggesting no imminent change in course.

The futures market indicates the US S&P 500 will slump by another 3.5% when trading begins later today, with the tech-focused Nasdaq index on track for a 4.5% tumble.

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Donald Trump’s aggressive push for sweeping reciprocal tariffs is increasingly drawing sharp criticism not just from global trading partners, but also from his allies in the business community and his own party.

What began as a bold economic move to shore up domestic manufacturing has now spiralled into a source of growing alarm, as concerns mount over potential damage to the US economy and its global standing.

Prez losing the confidence of global business leaders: Ackman tweets

The discontent spilled into the open over the weekend, as prominent investor Bill Ackman, a former Trump endorser, issued a rare and pointed rebuke.

In a lengthy statement, Ackman cautioned that the president’s tariff-heavy strategy could isolate the United States and trigger a devastating global economic backlash.

“By placing massive and disproportionate tariffs on our friends and our enemies alike and thereby launching a global economic war against the whole world at once, we are in the process of destroying confidence in our country as a trading partner, as a place to do business, and as a market to invest capital,” Ackman said.

He urged Trump to pause for 90 days to negotiate fairer trade agreements rather than escalate tensions.

“If, on April 9th, we launch economic nuclear war on every country in the world, business investment will grind to a halt, consumers will close their wallets and pocket books, and we will severely damage our reputation with the rest of the world that will take years and potentially decades to rehabilitate,” Ackman warned.

Corporate America grows anxious as market turmoil deepens

Business leaders are increasingly voicing their concerns, albeit cautiously.

At the Yale CEO Caucus held last month, an impromptu poll revealed a growing sense of unease among top executives about the potential fallout from Trump’s trade policies, Fortune reported.

According to the Wall Street Journal, 44% of CEOs said they would raise their concerns if markets plunged by 20%, while 22% pointed to a 30% drop, and 10% cited a catastrophic 50% decline.

Nearly a quarter believed it was not their role to intervene.

Jeffrey Sonnenfeld, the Yale professor who convened the summit, noted that many CEOs feel caught between their economic anxieties and political risks.

“They don’t want to be the lightning rod,” he said. “Then it becomes personalized to them.”

Privately, corporate board members are urging discreet lobbying rather than public confrontation.

“You don’t want to be the barking dog for everyone else because you’re going to be the one who will get shot,” one board member told the Financial Times.

Another emphasised the need for quiet diplomacy, advising Trump’s aides that tariffs would hurt his core constituents through rising prices and job losses.

Adding to the growing chorus, the Business Roundtable issued a carefully worded statement supporting the president’s goal of fair trade but cautioning that universal tariffs between 10% and 50% risk severe harm to American manufacturers, workers, and families.

Republican dissent signals cracks in party unity

The business community is not alone in its apprehensions. Republican lawmakers are beginning to break ranks, publicly questioning the wisdom of Trump’s tariff blitz.

Senator Ted Cruz of Texas issued a stark warning, predicting that Republicans could face a “bloodbath” in the 2026 midterm elections if Trump’s tariffs triggered a recession.

“There are voices within the administration that want to see these tariffs continue for ever and ever,” Cruz cautioned.

He emphasised that retaliatory measures from other nations could devastate American jobs and the broader economy.

Senator Thom Tillis of North Carolina voiced similar concerns, highlighting the risks to farmers in his state.

“Anyone who says there may be a little bit of pain before we get things right need to talk to my farmers who are one crop away from bankruptcy,” he told CNN.

Further cracks emerged just hours after Trump unveiled what he called “liberation day” tariffs.

Four Republican senators defied the president by voting for a Democrat-led Senate resolution demanding the reversal of a 25% tariff on Canadian goods.

While largely symbolic, the resolution garnered support from prominent Republicans including Senate Minority Leader Mitch McConnell, Rand Paul, and Susan Collins.

The dissenting voices reflect a broader, though often muted, discomfort within the party. Many fear political repercussions from Trump loyalists but privately acknowledge the potential economic fallout.

Markets reel as tariffs spark global rout

Meanwhile, despite the warnings, Trump remains defiant. Speaking to reporters aboard Air Force One on Sunday, the president defended his strategy, claiming that short-term pain was necessary for long-term gain.

“Sometimes you have to take medicine to fix something,” he remarked. Trump predicted that jobs and investment would flood back to the United States, making it “wealthy like never before.”

His top officials reinforced that message, insisting the tariffs would proceed as planned and downplaying the threat of recession.

Yet, global markets told a different story.

Within hours of Trump’s comments, Asian markets plunged. Japan’s Nikkei 225 tumbled 7.8%, while Hong Kong’s Hang Seng Index suffered an even steeper fall of over 12%.

According to Deutsche Bank analysts, the rout marked the fourth worst two-day market slump since World War II, eclipsed only by the crashes of 1987, the 2008 financial crisis, and the early days of the Covid-19 pandemic.

Deutsche further warned that the market disruption was the most severe since President Richard Nixon abandoned the gold standard in 1971, underlining the gravity of the unfolding turmoil.

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