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Bad News from China Reverses Bitcoin's Rise: It's Falling Again! - Koin Bulletin
After the Chinese government announced that it would impose an additional 34% customs duty on products imported from the US, Bitcoin (BTC) has entered a downward trend again.
In the past few days, Bitcoin, which has been dumped due to the tax tariffs imposed by US President Donald Trump, had recovered to rise to the level of $84,600. However, China's announcement disrupted the positive atmosphere in the cryptocurrency market, and the Bitcoin price started moving downwards again.
According to the official statement from the Chinese government, in response to the "retaliatory tariffs" imposed by the USA on Chinese products, an additional 34% tax has been added to the existing tariffs on all products originating from the USA. The decision will come into effect on April 10, 2025, with serious price increases expected for products imported from the USA after this date.
(# Market anxiety has increased
The renewed escalation of trade tensions between the US and China has caused unease among cryptocurrency investors. This situation has quickly affected the recently recovered Bitcoin price, increasing the uncertainty in the market. Experts point out that just as the deepening trade war between China and the US has impacted global markets, it could also increase volatility in the cryptocurrency markets.
After the news, Bitcoin )BTC### experienced a drop of more than 2%, falling to the 82,700 dollar band, while Ethereum (ETH), Solana (SOL), and other major cryptocurrencies were also negatively affected.