Cryptocurrency Market Jitters as Global Trade Tensions Rise
Bitcoin experienced a significant price drop on Friday, falling below the $110,000 mark and reaching $102,000. This downturn coincided with an announcement from US President Donald Trump regarding new tariffs on Chinese goods, intensifying global trade anxieties.
Tariffs Fuel Market Uncertainty
President Trump declared a 100% tariff on certain Chinese imports, citing China’s alleged attempts to restrict the export of rare earth minerals. These minerals are vital components in the manufacturing of computer chips, a critical industry globally.
Trump Cites Chinese Trade Posture
In a statement on Truth Social, Trump indicated that the tariffs were a direct response to what he described as an “extraordinarily aggressive position on Trade” by China. He referenced a letter from China to the international community, reportedly outlining large-scale export controls on various products, effective November 1, 2025. This development has added a new layer of complexity to the already volatile global trade landscape.
Shuffle Platform Reports Data Breach
Adding to the week’s concerns, crypto betting platform Shuffle disclosed a user data breach. Details regarding the extent and nature of the breach are still emerging, but such incidents often contribute to broader market unease within the cryptocurrency space.
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