As China hits U.S. goods with 84% tariffs, Bitcoin falls to $76K — will the Fed intervene?

With Bitcoin down and U.S.–China tariffs now at 84%, does this mark the start of another systemic selloff, or will the Fed manage to contain the fallout?

On Apr. 6, China retaliated against the U.S.’s tariff escalation by announcing a 34% counter-tariff on American goods, directly responding to the 34% levy President Trump had introduced just days earlier under his new “Liberation Day” tariff policy. In turn, Trump said that if China doesn’t withdraw its countermeasure, the U.S. will impose an additional 50% tariff on top of existing levies. Now, tensions have escalated further. On Apr. 9, China unveiled a more aggressive response: a total 84% tariff on U.S. goods, effective Apr. 10.

U.S. stock futures fell sharply as China announced the retaliatory tariffs.  Crypto markets have not been immune. Bitcoin, which had hit an all-time high of $109,000 in January, is now trading around $76,000, with lows of $74,500 seen in the past 24 hours. Given these conditions, there’s growing speculation about whether the Federal Reserve might consider a rate cut in the near term, and if so, what that could mean for digital assets.