US-China Trade War Continues to Hit Markets! Here’s What’s Latest in the Crypto Market

Crypto markets continue to suffer steep losses as investors brace for the long-lasting effects of the trade war. Bitcoin Sliding Towards $70K as Trump Tariffs Shake Global Markets; Ethereum Drops 10% Bitcoin (BTC) and the broader crypto market fell sharply on Wednesday as sweeping global tariffs imposed by U.S. President Donald Trump rattled investors worldwide and triggered steep losses in risk assets. Bitcoin briefly dropped to just below $76,000 in early trading before staging a modest recovery, but analysts warn that a drop to the $70,000-$75,000 range is a real possibility if trade tensions escalate. “While the short-term outlook for investors calls for caution, Bitcoin could fall to the $70,000-$75,000 range if trade tensions escalate,” said Ryan Lee, Chief Analyst at Bitget Research. Ether (ETH) led the losses among major cryptocurrencies, shedding 10% on the day. Other top tokens including XRP, Dogecoin (DOGE), Binance’s BNB, Solana (SOL), and Cardano (ADA) are down more than 5%. Total crypto market cap is down 6%, bringing its one-week decline to nearly 15%. Smaller tokens and memecoins suffered even deeper losses. Berachain’s BERA token dropped 20%, while popular meme assets like Bonk (BONK), Pepe (PEPE), and Floki (FLOKI) lost more than 9%. The sell-off reversed gains from Tuesday’s relief rally as investors pulled capital from risk assets amid rising trade fears. Trump’s new tariffs, which take effect today, include a 104% hike in the price of Chinese goods and new import duties affecting more than 60 US trading partners, sparking fears of a prolonged global trade war. *This is not investment advice. Continue Reading: US-China Trade War Continues to Hit Markets! Here’s What’s Latest in the Crypto Market

Source: BitcoinSistemi