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Bitcoin (BTC) enjoyed a summary of relief yesterday, as the United States launched 25 % commercial tariffs on Mexico and Canada for a month. However, the United States continued a 10 % tariff for China, prompting reprisal measures from Beijing. The escalation has pushed BTC below the decisive price level of $ 100,000.
Bitcoin suffers among commercial wars
After a volatile 24 hours full of uncertainty surrounding the US trade tariffs on Mexico and Canada, BTC witnessed a short -term relief to $ 102,000. This came after US President Donald Trump announced a 30 -day delay in imposing a tariff on the two countries of North America.
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However, today’s implementation of the American tariffs on China caused a sharp shrinkage, causing BTC to collapse to less than $ 100,000. In response, the Chinese Ministry of Finance announced new counter measures.
Starting February 10, China will impose an additional 15 % tariff on coal and liquefied natural gas, along with a 10 % tariff on agricultural equipment, crude oil, and some vehicles.
In addition, Beijing accused the United States of violating the World Trade Organization regulations (WTO) through one -sided tariff policies. The Chinese Ministry of Commerce also stated that it will tighten export controls on the main raw materials, including molybolinum, Andium, bimm, talorium, and tingstin, noting concerns about national security.
With the escalation of trade tensions between the United States and China, analysts expect an increased volatility in the encryption market in the coming days. Michael Van de Bobby, a well -known strategic expert in his encryption Expectations:
Bitcoin I wore again quickly and currently act within the range. I assume that we will see ATHS News in February, and it is very normal to correct it after such a strong apostasy. Volatility via the ceiling, but as long as the bitcoin remains above 93 thousand dollars, the ATH is likely to be new.
Meanwhile, the phoenix encryption trader and investor suggested that BTC could create a new trading scope in the ongoing trade war. However, history indicates that increasing definitions can spell trouble in cryptocurrencies.
Web3 enthusiasts.eth Duplicate In X Publication, BTC decreased by 65 % in 2018 when Trump first started a trade war with China. The effects were not limited to digital assets, as the S&P 500 index also decreased by 12 % in the weeks following the implementation of the tariffs.
More from the negative side of BTC?
While Bitcoin is struggling to retain the price of $ 100,000, fears are escalating about another possible price collapse. Ali Martinez’s encryption analyst recently Duplicate If BTC fails to keep the support level of $ 97,190, it can be there More pain For the best digital assets.
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Another analyst made a note on how currently BTC commerce In the pattern of landfill. At the time of the press, BTC is trading at $ 99,961, an increase of 1 % in the past 24 hours.
A distinctive image of Unsplash, X and TradingView.com plans
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