Bitcoin has fallen by 10% on the day, dropping below $110,000. This decline follows the announcement by President Trump of 100% tariffs on Chinese imports, effective November 1, 2025. The tariffs are part of a broader trade strategy that now totals 135% on certain goods.
For more details on the tariffs, see recent developments regarding the situation.
The cryptocurrency market has reacted negatively to the news, reflecting concerns over the potential economic impact of the tariffs. The announcement marks a significant escalation in trade tensions between the United States and China.
As previously reported, the tariffs are set to take effect on November 1, and their implementation could have far-reaching implications for both economies.
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