Tariff war exacerbates economic concerns, cryptocurrency market suffers a wave of selling
Cyberspace reported that cryptocurrency prices continued to fall, with Bitcoin falling to its lowest level since November last year, as escalating tariff war tensions raised concerns about the economy and offset U.S. President Trump's pro-cryptocurrency statement last week. Risky assets such as cryptocurrencies are under pressure amid concerns that Trump's tariffs and government firings will undermine U.S. economic growth. U.S. stocks fell and U.S. Treasuries rose as investors sought safety. Nikolay Karpenko, director of B2C2, said: "Although Trump's statement on cryptocurrency strategic reserves initially fueled optimism, this rebound quickly disintegrated as macroeconomic conditions deteriorated and markets experienced aggressive sell-off."
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