|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Bitcoin Fails to Stay Above $100000, Falls 2% as US-China Trade Tensions Escalate
Feb 05, 2025 at 04:01 pm
Bitcoin continued to decline on Wednesday, failing to stay above the key level of $100,000, as escalating trade tensions between the US and China keep investors cautious.
Bitcoin dropped on Wednesday, failing to hold above the key level of $100,000 as escalating trade tensions between the United States and China kept investors on edge.
Bitcoin was down 1.8% at $97,601.8 by 01:45 ET (06:55 GMT). The cryptocurrency briefly topped $100,000 two days ago but failed to gain a foothold at that level as trade frictions between Washington and Beijing worsened.
The latest escalation came after the United States slapped 10% tariffs on Chinese imports, citing national security concerns. China, in turn, imposed counter tariffs on American goods, including liquefied natural gas, coal, oil and agricultural machinery.
The worsening trade spat has made investors more cautious, sparking volatility in markets. For instance, gold prices hit record highs as traders rushed into safe-haven assets amid the uncertainty. Bitcoin’s failure to gain a foothold above $100,000 reflected the broader trend of traders shunning riskier assets.
Meanwhile, the U.S. Securities and Exchange Commission was downsizing its cryptocurrency regulation unit, reassigning lawyers to other agencies as part of the Trump administration's drive to reduce oversight of the digital currency market.
Any reduction in SEC regulatory oversight could bode well for bitcoin. However, broader macroeconomic challenges, including the escalating trade dispute between the world's two largest economies, overshadowed that potential driver.
Most altcoins showed little movement, trading in a narrow range, suggesting that investors were treading carefully with speculative assets.
Ether, the second-largest cryptocurrency by market cap, rose 0.5% to $2,741.53, while XRP, which is ranked third, slipped 1.1% to $2.4957. Solana lost 0.7%, while Polygon was nearly flat and Cardano edged down 0.3%. Among meme tokens, Dogecoin remained flat.
Bitcoin and other major cryptocurrencies rose on Tuesday as markets reacted positively to U.S. President Donald Trump’s decision to hold off on imposing new tariffs on Canada and Mexico.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Senator Bill Hagerty Set to Introduce Stablecoin Legislation Targeting Nonbank Issuers
- Feb 06, 2025 at 12:56 am
- Senator Bill Hagerty is set to introduce legislation aimed at creating a regulatory framework for stablecoins. This initiative, scheduled for Tuesday, reflects a growing desire among Republican lawmakers to establish crypto-friendly guidelines within the financial system.
-
- The Next Best Crypto to Buy Isn't Always the One Making Headlines
- Feb 06, 2025 at 12:56 am
- The crypto space is constantly evolving, and the next best crypto to buy isn't always the one making headlines today. It's the projects quietly building solutions to real-world problems, laying the groundwork for explosive growth.
-
- BitcoinOS Integrates With Arbitrum One, Ending the Divide Between Bitcoin and Ethereum
- Feb 06, 2025 at 12:56 am
- The BOS Grail bridge enables the secure, trustless transfer of BTC to the Arbitrum network. Unlike alternatives such as Wrapped Bitcoin (WBTC), which require third-party intervention to issue BTC-backed tokens, this integration offers a fully decentralized option.
-
- 2024 Dime Coin Value: A Guide for Collectors
- Feb 06, 2025 at 12:46 am
- The 2024 Dime coin is an exciting addition to the collection of numismatics. Whether you're an experienced coin collector or a beginner, knowing the value of a 2024 Dime coin, including its errors and mint marks, is crucial. In this article, we'll dive into the value of the 2024 Dime and explore the worth of the “D”, “S”, and “P” marks, as well as common errors collectors should watch out for.
-
- Berachain, a New EVM-Compatible Layer-1 Blockchain, Is Scheduled to Launch Its Mainnet on Feb. 6, 2025
- Feb 06, 2025 at 12:46 am
- This date marks a significant milestone for the project, coinciding with its Token Generation Event (TGE). The dual launch aims to introduce the Berachain ecosystem to developers