Bitcoin maintained stable after US revealed 245% tariffs on China
Bitcoin rose past $84,000 on Wednesday as the US-China trade battle escalated.
After its weekend retaliation, the US imposed a 245% tax on Chinese goods.
The global trade war has caused China to sell many of its confiscated cryptocurrency owing to an economic downturn.
Despite China selling off some of its stolen cryptocurrency, Bitcoin (BTC) was scarcely affected on Wednesday. After its weekend retaliation, the White House warned China that its exports to the US might face 245% penalties.
Bitcoin retains $84,000 amid US-China tariffs.
Bitcoin held $84,000 on Wednesday despite increased financial market volatility due to US-China trade war concerns.
China faces up to 245% duties, including 125% reciprocal tariffs, a 20% fentanyl levy, and Section 301 tariffs on particular items between 7.5% and 100%, according to the US administration. China retaliated by raising its tax on US imports to 125% over the weekend.
The S&P 500 and Nasdaq-100 fell 2.24% and 3.04% after the announcement. Bitcoin's news resiliency suggests a separation from stocks..
