However, today after the U.S. imposed tariffs on China, BTC fell sharply below the $100000 mark. In response, China's Ministry of Finance announced new countermeasures.
From February 10, China will impose additional tariffs of 15% on coal and liquefied natural gas and 10% on agricultural machinery, crude oil and some automobiles.
In addition, Beijing accused the U. S. of unilateral tariff policies that violate World Trade Organization (WTO) rules. ), accusing them of violating World Trade Organization (WTO) rules. China's Ministry of Commerce also announced tightened export controls on key raw materials such as molybdenum, indium, bismuth, tellurium and tungsten, citing national security concerns.
As trade tensions between the U. S. and China intensify, analysts expect volatility in the #cryptocurrency market over the next few days. Volatility in the cryptocurrency market is expected to increase in the coming days. Renowned cryptocurrency strategist Michael van de Poppe shares the following prediction. I believe that we will see a new ATH in February, which is a quite normal correction after such a strong rebound. Volatility is off the charts, but as long as #bitcoin holds above $93K, a new ATH is highly likely.
Meanwhile, crypto trader and investor Phoenix suggests that #BTC could set a new trading range amid the ongoing trade war. However, history suggests that rising tariffs could spell trouble for cryptocurrencies.
Web3-enthusiast merts. eth noted in post X that BTC fell 65% in 2018 when Trump first started a trade war with China. The impact wasn't limited to digital assets: the S&P 500 index also fell 12% in the weeks following the tariffs.
BTC falls further?
While bitcoin struggles to hold on to the $100,000 level, concerns are growing about the possibility of a price drop. Crypto analyst Ali Martinez recently noted that if BTC fails to hold on to the $97,190 support level, the major digital asset could have new problems.
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