Cryptocurrency Market Reacts to Global Trade Tensions
Bitcoin experienced a significant price drop, falling below $102,000, amid escalating international trade tensions. This downturn coincides with news of a data breach affecting the crypto betting platform Shuffle.
Tariffs and Bitcoin’s Volatility
On Friday, a declared 100% tariff on Chinese goods by the U.S. President sent ripples through the financial markets, directly impacting Bitcoin’s price. The cryptocurrency slid below the $110,000 mark following this announcement.
Rare Earth Minerals at the Core of Dispute
The President stated that the tariffs were a direct response to China’s alleged attempts to restrict exports of rare earth minerals. These minerals are vital components in the production of computer chips and various other high-tech products.
Social Media Announcement Fuels Concern
The U.S. President communicated the tariff decision on Truth Social, referencing what he described as an “extraordinarily aggressive position” taken by China on trade. He cited a letter from China to the global community indicating large-scale export controls on a wide range of products, effective November 1, 2025.
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