Bitcoin Eases on Renewed U.S.-China Trade Concerns — Market Talk
Bitcoin eases after hitting a one-week high overnight on optimism that the record-long U.S. government shutdown could end soon. The Senate late Monday passed a spending package that could end the shutdown, boosting stocks and bitcoin. However, risk sentiment "hit a snag" in Asia as fresh concerns over U.S.-China trade tensions emerged, Tickmill Group's Patrick Munnelly says in a note. This follows a WSJ report that China plans to prevent the U.S. military from getting its rare earth magnets. This would make importing certain Chinese materials more difficult for automotive and aerospace companies with both civilian and defense clients. Bitcoin falls 0.5% to $105,011 after reaching a high of $107,454 overnight, LSEG data show. ([email protected])