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New Blow to Bitcoin from China and Canada: Announcements Sharply Reduced Prices!
The new tariffs imposed by the US on Chinese products and the additional taxes Canada will apply to US vehicles have rapidly dropped the price of Bitcoin (BTC) to $74,600.
Bitcoin (BTC) was trading around $78,000, moving independently of the rise in global stocks. However, developments regarding the new tariffs from the US and Canada have once again sent the markets into a panic. The US implementing new tariffs that can reach up to 104% on Chinese products and Canada imposing a 25% additional customs tax on vehicles imported from the US have changed the course of the markets.
Following these developments, Bitcoin quickly lost value, dropping to $74,600 during the day. Alongside Bitcoin, the Nasdaq and S&P 500 indices, which were previously performing positively, also gave back their gains and turned negative. This situation indicates that investors' fears of a global trade war have been reignited.
The crypto market is under pressure again
The uncertainty stemming from the tariffs that has persisted in recent days has strengthened the pressure on Bitcoin once more. The increase in market uncertainty is pushing investors to seek safe havens, while the question of whether Bitcoin can recover in the short term remains a topic of interest.
According to analysts, the expectation that Bitcoin would separate from traditional markets and move independently has been postponed for now. In the coming days, the impact of news from the US, China, and Canada on the markets will be closely monitored.
Note: When we reach 70k followers, we will have very nice rewards exclusively for our Followers. Stay tuned.
The new tariffs imposed by the US on Chinese products and the additional taxes Canada will apply to US vehicles have rapidly dropped the price of Bitcoin (BTC) to $74,600.
Bitcoin (BTC) was trading around $78,000, moving independently of the rise in global stocks. However, developments regarding the new tariffs from the US and Canada have once again sent the markets into a panic. The US implementing new tariffs that can reach up to 104% on Chinese products and Canada imposing a 25% additional customs tax on vehicles imported from the US have changed the course of the markets.
Following these developments, Bitcoin quickly lost value, dropping to $74,600 during the day. Alongside Bitcoin, the Nasdaq and S&P 500 indices, which were previously performing positively, also gave back their gains and turned negative. This situation indicates that investors' fears of a global trade war have been reignited.
The crypto market is under pressure again
The uncertainty stemming from the tariffs that has persisted in recent days has strengthened the pressure on Bitcoin once more. The increase in market uncertainty is pushing investors to seek safe havens, while the question of whether Bitcoin can recover in the short term remains a topic of interest.
According to analysts, the expectation that Bitcoin would separate from traditional markets and move independently has been postponed for now. In the coming days, the impact of news from the US, China, and Canada on the markets will be closely monitored.
Note: When we reach 70k followers, we will have very nice rewards exclusively for our Followers. Stay tuned.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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