The post Bitcoin (BTC) Struggles Amid Escalating US Trade War Tensions appeared on BitcoinEthereumNews.com.

A firestorm of tariffs has been unleashed on many countries across the globe by the Trump administration. This has led to a huge 21% fall in the S&P 500 from top to bottom. Perhaps now in the eye of the storm, Bitcoin bulls are battling to keep the king of the cryptocurrencies afloat. Will they succeed? A whopping 104% tariff on some Chinese goods is now in effect. The extra 50% levy on certain Chinese imports was applied as China announced its own reciprocal like-for-like imposition of 34% on what the US had previously levied on China. With the US/China trade war now going full scale, Europe being forced to react to a 20% levy, and various other countries deciding what to do with the tariffs imposed against them, global economies are in a heightened state of disorder and uncertainty.  S&P 500 forming a bottom? Source: TradingView In the US, the S&P 500 has now dropped a total of 21%, and has bounced from the very strong $4,800 horizontal support. Will there be a bottom made here, or is the global tariffs war going to force the price even lower? U.S. 10-year bond yields spike back Source: TradingView A real problem for U.S. treasury secretary Bessent right now is how 10 yr bond yields have spiked back up, after initially starting to cave. The 10 year bond yield is what is used as a baseline for refinancing the current $7 trillion or so of maturing debt in 2025, and as such, getting the yield lower is an absolute priority. Nevertheless, the above chart is showing that the 10 year yield could get even uglier, and is suggesting that money is still not trusting longer duration government bonds as a flight to safety. Bitcoin still plumbing the depths Source: TradingView Among…

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Filed under: News - @ April 9, 2025 11:26 pm