Hey, crypto investors! Just when we thought the U.S.–China tariff feud was cooling off, President Trump increased the pressure by imposing a fresh 245% tariff on a targeted list of Chinese goods. These items include electric cars, auto parts, syringes, and a few others. Fortunately, it’s not the broad-based levy everyone feared.
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So far, China has not announced its countermeasures, and this has created uncertainty in the market. After the President’s announcement, many traders opened short positions, anticipating an immediate market reaction, but surprisingly, it has been quiet.
But what could be responsible?
Maybe the market isn’t reacting yet, or perhaps the U.S. has adjusted. Regardless, we’re on edge. And if China retaliates, we could see a swift sell-off across various assets, particularly liquid ones like Bitcoin.
Despite the turmoil, Bitcoin remains stable above $80,000, swinging between $84,000 and $86,000. To continue an upward trend, it needs to gain momentum to surpass the $86,000 resistance zone. See the chart below.
