Markets just went from euphoria to despair in the length of time it normally takes to end and start a new week. 

Bitcoin dropped 3% to $79,465 while stocks completely imploded, wiping out most of Wednesday's historic rally in a brutal reversal.

Turns out that celebrating a temporary tariff pause might have been slightly premature – who would've thought?

The Crypto Bloodbath

Bitcoin is somehow holding up better than most assets, which says more about the carnage elsewhere than BTC's strength.

Ethereum got absolutely hammered, dropping nearly 8% while Solana dumped over 7% in what looked like a coordinated exit from risk.

The narrative of "crypto as an uncorrelated asset" is deader than BitConnect right now – when stocks tank, crypto follows like an obedient dog.

Coinbase and Strategy both got wrecked with 8% drops, proving that even crypto-adjacent stocks aren't safe when markets decide to puke.

The Stock Market Apocalypse

The S&P 500 just plunged 4.6%, erasing most of Wednesday's face-melting rally that was its biggest single-day jump since 2008.

Tech stocks got absolutely demolished – Apple down 3%, Tesla down 5%, Nvidia down 5%, and Meta down 6%.

Yesterday, we were celebrating the market's third-biggest gain since World War II – today, everyone's checking their 401k balance with one eye closed.

Melissa Brown from SimCorp basically said "nobody knows anything right now" but used more professional language about uncertainty and changing narratives.

The Trump Tariff Rollercoaster

Trump's 145% tariff threat on Chinese goods has markets absolutely spooked, and that number seems to keep going up. 

He temporarily paused some tariffs on Wednesday, which triggered euphoria across all markets for exactly one trading day.

Then, on Thursday, he casually mentioned that the pause might not be extended, and markets instantly went into panic mode.

It's like watching the world's most powerful person play "just kidding" with the entire global economy.

The Volatility Comeback Tour

Markets are now moving like a meme coin during a pump and dump – massive swings in both directions with zero warning.

The Nasdaq went from its best day since January 2001 to face-planting the very next session.

For crypto traders, this volatility feels like a normal Tuesday, but traditional finance bros are probably questioning their entire schooling and time in the market right now. 

The VIX is spiking like it's March 2020 all over again, and nobody knows if we're at the beginning, middle, or end of this chaos.

The Support Level Watch

Bitcoin's $80k support level is holding by a thread, and traders are watching it like hawks circling a wounded animal.

Read Harvey from Wolfe Research called Bitcoin's resilience "impressive" considering the broader market bloodbath.

The fact that BTC is only down 3% when equities are imploding might actually be a sign of strength rather than weakness.

But if stocks keep tanking, it's hard to imagine crypto not eventually following suit – correlation tends to spike to 1 during market panics.

The Next Chapter

Markets will continue to hang on Trump's every word.

Bitcoin needs to defend that crucial $80k level or risk giving back months of gains in a cascading liquidation event.

The days of "number only go up" are clearly on pause while the grown-ups figure out global trade policy.