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Bitcoin Down 2.5% as China Slaps Retaliatory Tariffs on U.S., Probes Google
The move came after U.S. President Donald Trump's new 10% tariffs on China came into effect.
Updated Feb 4, 2025, 5:56 a.m. Published Feb 4, 2025, 5:46 a.m. 1 min read
What to know:
- China slaps retaliatory tariffs on U.S., keeping trade war fears alive.
- BTC, Nasdaq futures drop while the dollar draws haven bids.
Bitcoin 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.
Sizin için daha fazlası
The launch of round-the-clock bitcoin futures trading eliminates the long-standing CME weekend gap and marks another step toward fully integrated institutional crypto markets.
Bilinmesi gerekenler:
- From Friday, CME Bitcoin futures and options now trade 24/7 on Globex, ending the traditional Friday-to-Sunday market closure that created the widely watched “CME gap.”
- Despite the structural shift, liquidity remains concentrated in ETF options and offshore perpetuals, with IBIT options open interest far exceeding CME crypto options markets.
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