The encryption market interacts with the escalation of the US -Chinese tariff, BTC sliding to less than $ 99,000

The main cryptocurrencies witnessed a decrease on Monday after the announcement of the new US tariff for some of its allies, which raised concerns about a possible escalation in global trade tensions. Bitcoin has decreased to its lowest level in three weeks, Ethereum reached its lowest level since September, as investors have sought to get out of risky assets. However, Bitcoin, the largest cryptocurrency in the world by maximum market, rapidly decreased from a decrease of $ 90,000 to more than 101,000 dollars before it was immersed less than $ 99,000 again.

China’s retaliation for American definitions

In response to the latest commercial measures of the United States, China imposed a rapid tariff on major American exports. A 10 % tariff was placed on all American imports in China, effective from 12:01 am. Customs tariffs target sectors such as energy and agriculture, with 15 % duties on coal, liquefied natural gas, 10 % tariffs on crude oil and selecting cars. These measures will enter into force on February 10. China has also provided critical mineral export controls such as Tungsten and Ruthenium, noting concerns about national security.

The United States, the trade war in China continues to intensify

The trade conflict between the United States and China does not show any signs of mitigation. While President Trump has temporarily suspended the proposed tariff for Mexico and Canada, providing some comfort to global markets, such leniency has not been extended to China. In addition, China has launched a Google monopoly achievement, indicating more tensions with American companies.

Altcoins bounce again

Altcoins also witnessed sharp recovery operations, as XRP increased by 50 %, recovering from previous losses, and advancing in Solana to trade at $ 210. Although encrypted currencies remain sensitive to macroeconomic events, stopping the tariffs on Mexico has improved market morale and has caused a renewed speculative interest in digital assets. Ethereum also gained and currently trading from $ 2700.