$6 billion wiped out in 1 hour! Trump to impose 130% tariff on China; triggers crypto market sell off
Cryptocurrency markets tumbled on Friday as renewed trade tensions between the US and China, alongside a fresh export control move by Donald Trump, rattled investors worldwide.After the announcement crypto giant Bitcoin fell 8.4% to $104,782 at 17:20 ET and Ethereum followed, tumbling 5.8% to $3,637. Earlier on Monday, Bitcoin, the world’s largest crypto, recorded its lifetime high, surpassing $126,250 levels.This comes after the US President unveiled a 100% additional tariff on Chinese imports, bringing the total tariffs on China to 130%. Alongside, he also rolled out new export controls on critical softwares. Washington’s retaliation against China was due to Beijing’s recent restrictions on rare earth minerals, essential for…
