Original | Odaily Planet Daily ( @OdailyChina )
Author: Azuma ( @azuma_eth )
Global financial markets were tricked by a piece of fake news tonight.
Around 22:15 Beijing time tonight, mainstream media such as CNBC and Reuters successively reported such a news - Hassett, director of the U.S. National Economic Council, said that U.S. President Trump is considering suspending tariffs on some countries for 90 days.
At a time when sentiment about tariff policies is extremely tense, the news was immediately interpreted by the market as a sign that Trump was willing to give in and accept further negotiations. Under this positive influence, global financial markets rebounded rapidly, and the cryptocurrency market was no exception. OKX market data showed that after the news came out, BTC once rebounded and broke through 81,000 USDT, reaching a high of 81,213.5 USDT.
However, not long after, some media and professionals quickly discovered that something was wrong and the above news seemed to be wrong.
Around 22:25, CNBC clarified that no one in the White House was aware of the 90-day tariff suspension.
Shortly afterwards, Forexlive reported that the news had spread everywhere, but it looked like fake news.
Later, CNBC reported again that the White House had told the media that any talk of a 90-day suspension was fake news.
Around 22:57, US President Trumps rapid response team officially responded to the market rumors, confirming that US National Economic Council Chairman Hassett did not say the relevant news, proving that the news was a false report by the media.
Affected by this clarification, the global financial market immediately took a sharp turn for the worse, and went through a roller coaster ride. As for cryptocurrencies, as of the time of writing, BTC has fallen back below 79,000 USDT, temporarily reporting 78,827.5 USDT.
So, how did this fake news get out?
After quick piecing together by various market observers, the transmission path of the news is suspected to be as follows.
The cause of the incident was that Hassett was asked in an interview with Fox News whether Trump would consider suspending tariffs for 90 days. Hassett said the interjection Yep before answering, and then said I think the president will make his decision... Even if you think there will be some negative impact on trade, it will only account for a small part of GDP... Some people seemed to misunderstand Yep as meaning agreement, but this Yep just meant to indicate that he heard the question clearly.
Subsequently, some people who misunderstood the situation began to spread the rumor of tariff suspension as mentioned above on social media, but at first the rumor did not cause much stir.
Immediately afterwards, CNBC mentioned the rumor during the live broadcast. Although the host said in the verbal report, I dont know if this is true, CNBC still typed the content of the rumor directly below the live broadcast screen.
Then, many mainstream media including Reuters picked up and reprinted CNBCs report.
The final result was that the rumor quickly detonated the global financial market...
Obviously, CNBC, which did not handle the live broadcast rigorously, needs to take the blame for this blunder. After the truth came out, a large number of users criticized CNBC on X, and some even angrily said that the relevant personnel should go to jail for this.
Although this rumor has been disproven, the impact of the incident is irreversible, especially the impact of large two-way fluctuations on the contract market. According to Coinglass data, the entire network has been liquidated for $274 million in the past four hours, including $93.6636 million in long orders and $181 million in short orders. This is just the cryptocurrency market. If the scope is expanded to the global financial market, the impact of this rumor will be further expanded...
The fact that an oolong incident caused such a big reaction is enough to show that the market is in a state of panic. Any dynamics on tariffs and interest rate cuts may cause large fluctuations in the market. For investors, please be sure to pay attention to the relevant risks and remember that being alive at the moment is more important than anything else.
