Bitcoin’s price hovered around $106,913 on Wednesday after the introduction of a 55% tariff on Chinese imports, raising concerns across both traditional and crypto markets. While the move comes amidst positive inflation data for the US, analysts are warning that the new tariffs could have a more significant impact on short-term price action than the recent CPI report. This unexpected development, in the context of trade negotiations between the US and China, has sparked market anxiety, despite a surprisingly moderate inflation reading of 2.4% year-over-year. Market sentiment has been dampened by the increased tariffs, with investors expressing concern about the potential economic repercussions.