Crypto Markets in 'Extreme Fear' as China Rebuts Trump’s Additional 100% Tariff Threat

Crypto markets have plunged into 'extreme fear' following China's response to former President Donald Trump's threat of implementing a 100% tariff on Chinese imports. China's Ministry of Commerce clarified that its recent rare-earth export controls, which are designed to refine current regulations, are lawful security measures rather than outright bans. The ministry stated that licenses will be granted for qualifying civilian exports, suggesting minimal supply-chain disruption. This move comes as China seeks to push back against the trade tensions with the United States, emphasizing that it does not seek a trade war but is prepared to take action to protect its interests. As of now, Bitcoin has dropped roughly 10% from its recent peak, signaling a fragile market sentiment. Market indicators show a stark shift in mood, with fear dominating investor psychology.

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