Bitcoin (BTC) Price News: Bulls Stifled Again

Bitcoin faced a significant decline recently, dropping below $119,000, attributed to increasing tensions between the U.S. and China. President Trump's announcement regarding potential tariff increases on Chinese imports, in response to their export controls on rare earth metals, triggered this downturn. This volatility not only affected Bitcoin but also saw Ethereum and Solana prices tumble alongside crypto-related stocks, with notable declines observed in Circle, Robinhood, and Coinbase shares. This latest slump comes after a brief all-time high for Bitcoin only four days prior, illustrating the market's sensitivity to geopolitical developments. Presently, Bitcoin's value is down approximately 2% over the past 24 hours, continuing a broader trend of instability in the cryptocurrencies market, which is being overshadowed by a rally in gold prices and declines in traditional stock markets, indicating a shift in investor preference during times of uncertainty.

Source 🔗