Bitcoin (BTC) and Nasdaq futures faced renewed selling pressure during Asia trading hours on Tuesday as China imposed retaliatory tariffs against the U.S.
China also announced an antitrust probe into Google, while moving clothing firm PVH Corp and biotechnology firm Illumina to the list of unreliable entities.
Beijing imposed a 15% duty on U.S. coal and LNG and a 10% tax on crude oil, agricultural machinery, pickup trucks and large-engine cars. The move came after U.S. President Donald Trump’s new 10% tariffs on China came into effect.
On Monday, Trump agreed to a 30-day pause on his tariff threats against Mexico and Canada, offering a relief to BTC. The cryptocurrency’s price staged a remarkable recovery from nearly $92,000 to over $102,000 in hopes that the trade war would be short-lived.
China’s fresh action, however, has dented the recovery, sending BTC down to $98,500 at press time. The Nasdaq futures are down 0.6% with the dollar index drawing safe haven bids.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Bitcoin market activity over the past day has been marked by turbulence, with its value…
Bitcoin (BTC) has had a volatile 24 hours, plunging from $99,500 to as low as…
Bitcoin (BTC) has experienced a significant drop, with its value plunging to $91,000 in the…
Bitcoin price started a fresh upward move above the $98,000 zone. BTC is trimming losses…
Data shows the sentiment among Bitcoin traders has plunged into the fear territory following the…
Follow Nikolaus On 𝕏 Here For Daily Posts Today, The Wall Street Journal (WSJ) published…