Bitcoin Falls as U.S.-China Tensions Build — Market Talk
Bitcoin falls as a flare up in U.S.-China trade tensions dent appetite for risky assets. President Trump said Tuesday that his administration was considering terminating some ties with China, including in relation to cooking oil, in retaliation for Beijing refusing to buy U.S. soybeans. It follows his threat on Friday to impose an additional 100% tariff on Chinese imports, triggering a selloff in cryptocurrencies. Trump's latest comments have revived fears about a fresh escalation in the trade war and contrast with remarks from U.S. Trade Representative Jamieson Greer earlier in the day expressing confidence that tensions would ease in coming weeks through talks, Deutsche Bank analysts say in a note. Bitcoin falls 0.6% to $112,431, LSEG data show.([email protected])