One of the most volatile trading sessions since March 2020 exposed deep cracks in the global financial system—foreign selling of U.S. Treasury notes is questioned.
Analysts suggest the yuan's depreciation may lead to capital flight into bitcoin.
Beijing is considering advancing monetary stimulus to mitigate the effects of President Trump's tariffs on the Chinese economy.
China announced retaliatory tariffs on all goods, worsening risk sentiment during European hours.
Eased policy in China — and signs of this are emerging — could significantly boost bitcoin adoption
The Chinese government is considering integrating blockchain to enhance the security of its credit information systems, according to a report from STCN. The move is part of a broader effort by the National Development and Reform Commission (NDRC) to apply emerging technologies in improving data-sharing practices and safeguarding sensitive information. Li Chunlin, Deputy Director of […]
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China has raised concerns about the growing dominance of US dollar-backed stablecoins in global finance. A senior economist from one of the country’s research bodies has warned that their unchecked rise could further solidify the United States control over the international monetary system. Dollar-backed stablecoins raise concerns According to Zhang Ming, deputy director at the […]
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The Hermit Kingdom, which intelligence agencies say was behind the $1.5 billion Bybit hack, faces “offramping” challenges due to the size of its hauls.
China and Germany's shift in fiscal policy might calm crypto market nerves.
Beijing isn't going to allow crypto exchanges to directly operate BTC in China, but there might be a way that Hong Kong crypto ETFs can be traded in the mainland.
Despite China’s ban on cryptocurrencies, Chinese investors continue to invest in the space.
In the short-term, the crypto market will be negatively impacted by increased volatility in global trade, says ML Tech’s Leo Mindyuk. But over time, crypto will be less impacted than traditional finance.
Bitcoin (BTC) enjoyed a brief sigh of relief yesterday as the US delayed its proposed 25% trade tariffs on Mexico and Canada by a month. However, the US proceeded with its 10% tariffs on China, prompting retaliatory measures from Beijing. The escalation has pushed BTC back below the critical $100,000 price level. Bitcoin Suffers Amid Trade Wars After a volatile 24 hours filled with uncertainty surrounding US trade tariffs on Mexico and Canada, BTC experienced a short-lived relief rally to $102,000. This came after US President Donald Trump announced a 30-day delay in imposing tariffs on the two North American nations. Related Reading: Bitcoin Indicator Shows Market Far From Overheating – Details However, today’s implementation of US tariffs on China triggered a sharp downturn, causing BTC to break below the $100,000 level. In response, China’s Ministry of Finance announced new countermeasures. Starting February 10, China will impose an additional 15% tariff on coal and liquefied natural gas, along with a 10% tariff on agricultural equipment, crude oil, and certain vehicles. Additionally, Beijing has accused the US of violating World Trade Organization (WTO) regulations with its one-sided tariff policies. The Chinese Ministry of Commerce also stated that it would tighten export controls on key raw materials, including molybdenum, indium, bismuth, tellurium, and tungsten, citing national security concerns. With trade tensions escalating between the US and China, analysts predict heightened volatility in the crypto market in the coming days. Well-known crypto strategist Michael van de Poppe shared his outlook: Bitcoin bounced back swiftly and is currently acting within the range. I assume we’ll see new ATHs in February and it’s quite normal to correct after such a strong bounce. Volatility through the roof, but, as long as Bitcoin remains above $93K, a new ATH is likely. Meanwhile, crypto trader and investor Phoenix suggested that BTC could establish a new trading range amid the ongoing trade war. However, history suggests that heightened tariffs could spell trouble for cryptocurrencies. Web3 enthusiast merts.eth pointed out in an X post that BTC plummeted 65% in 2018 when Trump first initiated a trade war with China. The effects were not limited to digital assets, as the S&P 500 also dropped 12% in the weeks following the implementation of tariffs. More Downside For BTC? As Bitcoin struggles to hold the $100,000 price level, concerns are mounting about another potential breakdown in price. Crypto analyst Ali Martinez recently pointed out that if BTC fails to hold the $97,190 support level, there could be more pain for the top digital asset. Related Reading: Bitcoin Price Must Hold Above $97K To Sustain Momentum – Metrics The analyst made another observation about how BTC is currently trading in a bearish flag pattern. At press time, BTC trades at $99,961, up 1% in the past 24 hours. Featured image from Unsplash, charts from X and TradingView.com
Unlike most advancements in generative AI, the release of DeepSeek-R1 carries real implications and intriguing opportunities for Web3-AI.
The move came after U.S. President Donald Trump's new 10% tariffs on China came into effect.
As February began, crypto investors found themselves inside a turbulent market after the digital asset space went crashing down, leading to more than $2 billion in crypto liquidations and Bitcoin price plunged near the $90,000 mark. Related Reading: Bitcoin Bull Market At Risk If Key $97,000 Support Level Fails To Hold, Analyst Warns Analysts attributed the current turmoil in the cryptocurrency sector to the new tariffs imposed by President Donald Trump on Canada, Mexico, and China, raising questions on what would be the long-term impact of the tariffs on digital currencies. $2 Billion In Crypto Liquidations Trump said in a statement that the US is eyeing to implement heftier tariffs on its three largest trading partners, Canada, Mexico, and China, a measure that sent shockwaves in the cryptocurrency community. Market observers believe that Trump’s announcement fueled the crash across the cryptocurrency sector, which saw massive leverage liquidations among virtual currencies. Source: Coinglass According to Coinglass, more than $2 billion in crypto liquidations were recorded in the 24 hours after the planned new tariff was announced by the US President. Data also showed that the prices of the top-tier cryptocurrencies plunged after traders found themselves in a turbulent market after the tariff announcement. Bitcoin plummeted to $95,200, according to CoinGecko, the lowest price the firstborn crypto has been in three weeks. Meanwhile, Ethereum went down to about $2,800, wiping out all the gains it made since early November. “In the short term, we’ve bottomed. Market makers have used this tariff news cycle to sweep the leveraged longs and there is now very little liquidity worthy of pushing price lower,” crypto fund manager Merkle Tree Capital chief investment officer Ryan McMillin said in an interview. Tariffs Might Trigger An Inflation Analysts said that many investors are worried that the new tariff would contribute to inflation which could impact sentiments on digital assets. “Crypto is really the only way to express risk over the weekend, and on news like this, crypto resorts to a risk proxy,” Pepperstone head of research Chris Weston said. Nick Forster, founder of Derive, a DeFi derivatives protocol, believes that Trump’s new tariff would more likely push inflation up, dampening investor sentiment in cryptocurrencies. “We’re already seeing signs of heightened market volatility, as BTC’s 30-day implied volatility has risen by 4% to 54% in the wake of these tariffs and the broader economic uncertainty,” Forster said. The DeFi derivatives protocol founder added that he expects that this volatility would persist as “more negative catalysts likely unfold in the coming weeks.” A Bitcoin Boom? Bitwise Asset Management’s head of alpha strategies Jeff Park suggested that a Bitcoin boom might be a potential positive effect of Trump’s tariff policies. Related Reading: Bitcoin Price Nosedives Nearly 10%: Panic or Buying Opportunity? Park explained that the new tariffs might weaken the US dollar, creating a favorable condition that could drive growth for Bitcoin, saying that as tariffs increase inflation, it would affect both domestic consumers and international trade partners, which might drive the residents of foreign nations toward BTC to counter currency debasement. Featured image from Getty Images, chart from TradingView
Renewed trade war, coupled with mass deportations, could add to inflation. BTC's weakness likely reflects those fears.
Is Mark Zuckerberg sincere about promoting free speech on his platforms or is he trying to mend political fences with the incoming Trump administration?
Elon Musk’s social media platform X may take control of TikTok US and run the businesses together under one potential scenario reportedly being considered.
The PBOC on Friday suspended bond purchases to stall the slide in bond yields and CNY
Capital flight from China could find home in alternative assets like bitcoin.
A venture capitalist who was one of the first investors in Solana says building liquidity is now key to Hong Kong’s development as a crypto hub.
Cango purchased 50 EH/s worth of mining power towards the end of 2024, making it one of the biggest players in the bitcoin mining industry.
China has rolled out new regulations to identify and control risky foreign exchange activities, including those involving cryptocurrencies, the South China Morning Post reported. According to the report, China’s State Administration of Foreign Exchange recently directed banks to monitor and report suspicious transactions tied to cross-border gambling, underground financial networks, and unauthorized crypto dealings. The […]
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China’s new forex rules require Chinese banks to track identity, fund sources, and trading frequencies to curb cross-border crypto activities.
China has been waging a decades-long war against the U.S.’s greatest asset — the dollar. A bitcoin reserve would go a long way toward regaining our influence.
The People’s Bank of China (PBOC) digital currency cryptocurrency regulation’s importance in its recently published 2024 Financial Stability Report. This reiteration is particularly noteworthy given the contrasting approach of crypto between mainland China and Hong Kong. Notably, while mainland China maintains its strict ban on cryptocurrency trading and mining, Hong Kong continues to diverge by actively […]
Politician and entrepreneur Wu Jiezhuang—a member of the Hong Kong Legislative Council and the National Committee of the Chinese People’s Political Consultative Conference—has called for the inclusion of Bitcoin in the city’s fiscal reserves. The proposal emerged during an interview published by the pro-Beijing newspaper Wen Wei Po, established in Hong Kong on September 9, […]
A Hong Kong legislator has proposed leveraging the “one country, two systems” framework to add Bitcoin to its national reserve for financial stability.
Hong Kong lawmaker Wu Jie has urged the city-state’s government to consider integrating Bitcoin into its fiscal reserves, a local media outlet reported. The report showed that Wu proposed that the Hong Kong Special Administrative Region (SAR) explore the inclusion of cryptocurrencies in its fiscal reserves and leverage foreign exchange funds to acquire and hold […]
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