U.S. Tariffs on China Drive Crypto Market Volatility

The U.S. imposition of tariffs on Chinese goods has sparked significant volatility in the cryptocurrency market, affecting both Bitcoin and related equities. On October 20, 2023, President Trump’s announcement regarding 100% tariffs on Chinese imports triggered a sharp decline in Bitcoin prices, impacting altcoins and equities as investors reacted to his statements. This move led to substantial liquidations, further contributing to the market’s volatility.