BTC Defies Peak Fear as USD Plunges Over Trump’s China Trade War
By Francisco Rodrigues (All times ET unless indicated otherwise)
As the trade war between the U.S. and China escalates, with the latter raising tariffs on the former from 84% to 125% this morning, bitcoin (BTC) and the wider cryptocurrency market appear relatively unfazed.
Bitcoin is down a mere 0.15% over the last 24 hours, and China’s recent escalation hasn’t stopped its ongoing recovery. The cryptocurrency is now trading above $82,000. The wider crypto market, measured by the CoinDesk 20 (CD20) index, is stable with similar performance.
The same can’t be said about other assets. Gold rose to a new $3,227.5 record making Tether’s XAUT — a gold-backed cryptocurrency — the top-performing digital asset. Meanwhile, the U.S….
