Bitcoin's price movement today has been heavily influenced by geopolitical tensions, particularly the escalating trade conflict between the U.S. and China. China's decision to impose a broad array of tariffs in response to U.S. threats has sent shockwaves through various markets, including cryptocurrencies. This move has led to a fresh set of declines in Bitcoin, echoing the initial reactions to the weekend's announcements. The uncertainty surrounding potential U.S. counter-retaliation and the unpredictable nature of the trade dynamics have further contributed to the negative sentiment in the crypto market.
Despite a brief recovery following a temporary pause on tariffs for Canada and Mexico, Bitcoin's price has struggled to maintain its upward momentum. The broader market remains on edge, with investors wary of further geopolitical shifts that could reignite selling pressure. The situation remains fluid, and the potential for prolonged trade tensions continues to weigh heavily on risk assets, including Bitcoin.
Bitcoin's price has decreased by 2.66% today, currently trading at $98,768.55. It reached a high of $101,708.66 earlier in the day but has since fallen to a low of $98,720.63.