Market Downturn Amid Trade Tensions

The crypto market has faced significant pressure due to escalating US-China trade tensions. The imposition of a 145% tariff on Chinese imports by the Trump administration has spooked investors, leading to a broader risk-off sentiment in global markets. Bitcoin (BTC) dropped below $81,000, trading at approximately $80,955 with a 1.5% decline, while Ethereum (ETH) fell 3.8% to $1,552. The global crypto market cap contracted by 1.09% to $2.58 trillion, reflecting cautious investor sentiment.