$BTC Under Pressure as China Tariffs Trigger 2.5% Price Drop, Market Jitters

Bitcoin slipped below $100k for the second day in a row after China’s retaliatory tariffs against the US put a hold on its spirited recovery after the early Monday crash.

After crashing by close to 10% and settling around $92k on Monday, Bitcoin witnessed a speedy recovery that sent it back above $100k by Monday evening after Canada, Mexico, and the US agreed on a 30-day moratorium on the Trump Tariffs.

However, the US didn’t extend the tariffs pause to China and the Asian economic giant responded by imposing retaliatory levies of 10% and 15% on such US products as coal, oil, natural gas, and agricultural equipment.

The announcement re-ignited fear and uncertainty among crypto investors.

While it wasn’t as impactful enough to force the liquidation of $2.2 Billion worth of crypto trades, it was enough to dent $BTC 's recovery and push its price below $98,000 during the early Tuesday morning trades of the Asian market