China’s announcement of new tariffs on U.S. goods has triggered another wave of decline in Bitcoin (BTC) prices.
BTC, which was trading around 78,000 dollars earlier in the day, quickly dropped to 74,600 dollars following a statement from China’s Ministry of Finance that it will impose additional duties on U.S.-made products starting April 10.
This move is being seen as China’s first major response to the recent tariff increases by both the U.S. and Canada.
The announcement created a fresh wave of uncertainty in global markets, leaving crypto investors worried about Bitcoin’s short-term direction. Analysts say the resurgence of trade war tensions has lowered investor risk appetite and has once again put BTC’s “safe haven” status into question.
In the coming days, how the tensions among China, the U.S., and Canada unfold will be crucial for the direction of the crypto market.
