Bitcoin, Altcoins Fall as US Tariff Hike on China Spooks Global Markets
- US imposes reported 104% tariff hike on Chinese goods, escalating trade war
- Crypto markets fall amid risk-off sentiment; Fear & Greed Index hits ‘Extreme Fear’
- Context: Immediate crypto sell-off contrasts with uncertain future capital flight theory
The trade war between the United States and China has ratcheted up sharply Tuesday, as the White House announced a steep tariff increase on Chinese imports. Reportedly involving a 104% hike on certain goods, the new tariffs took effect April 9, 2025, marking a serious escalation of trade tensions.
In response to the U.S. announcement, China had imposed a 34% tariff increase on American goods. With Beijing failing to reverse its position, the U.S. decided to move forward with the additional 104% tariff, further deepening the trade rift. While the new tariff is a heavy blow to China, the full financial fallout remains unclear.
Related: ‘Ignore China At Your Peril’: Ben Zhou Flags Yuan Devaluation’s BTC Impact
Markets React: Crypto Sees Red
Financial markets, including cryptocurrencies, reacted negatively across the board. The total market cap of the crypto sector dropped to $2.44 trillion, marking a 2.…
The post Bitcoin, Altcoins Fall as US Tariff Hike on China Spooks Global Markets appeared first on Coin Edition.
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Bitcoin, Altcoins Fall as US Tariff Hike on China Spooks Global Markets
- US imposes reported 104% tariff hike on Chinese goods, escalating trade war
- Crypto markets fall amid risk-off sentiment; Fear & Greed Index hits ‘Extreme Fear’
- Context: Immediate crypto sell-off contrasts with uncertain future capital flight theory
The trade war between the United States and China has ratcheted up sharply Tuesday, as the White House announced a steep tariff increase on Chinese imports. Reportedly involving a 104% hike on certain goods, the new tariffs took effect April 9, 2025, marking a serious escalation of trade tensions.
In response to the U.S. announcement, China had imposed a 34% tariff increase on American goods. With Beijing failing to reverse its position, the U.S. decided to move forward with the additional 104% tariff, further deepening the trade rift. While the new tariff is a heavy blow to China, the full financial fallout remains unclear.
Related: ‘Ignore China At Your Peril’: Ben Zhou Flags Yuan Devaluation’s BTC Impact
Markets React: Crypto Sees Red
Financial markets, including cryptocurrencies, reacted negatively across the board. The total market cap of the crypto sector dropped to $2.44 trillion, marking a 2.…
The post Bitcoin, Altcoins Fall as US Tariff Hike on China Spooks Global Markets appeared first on Coin Edition.
Read More