Bitcoin 
$67,982 fell below the $100,000 threshold following China’s decision to impose additional tariffs on certain products imported from the U.S. The Chinese Ministry of Finance announced a 15% tax on coal and liquefied natural gas, and a 10% tax on crude oil, agricultural machinery, and some vehicles. This decision came after the implementation of additional tariffs by the U.S. on Chinese goods, contributing to volatile conditions in the cryptocurrency market amid rising trade war concerns.
China’s Additional Tax Decision on U.S. Imports
The Chinese Ministry of Finance revealed that as of February 10, additional tariffs will apply to products imported from the U.S. This decision was announced on the grounds of violating World Trade Organization rules. On the same day, the Chinese Ministry of Commerce indicated that it would impose strict controls on the export of products containing tungsten, tellurium, bismuth, molybdenum, and indium.
Experts emphasize that these developments could impact global supply chains and commodity prices significantly. The risk of bottlenecks is particularly increasing in the technology and energy sectors. Given that the cryptocurrency market is considered a risky asset class, it is rapidly affected by rising tensions in the trade landscape.
Volatile Trends in the Cryptocurrency Market
Bitcoin had briefly risen above $100,000 after dropping to $92,800 on Monday. However, following China’s announcement, it fell back to $98,400. Although the market showed short-term recovery due to the postponement of tax discussions between the U.S. and Mexico, the Sino-American tensions intensified the downward pressure.
Min Jung, an analyst at Presto Research, noted that cryptocurrencies might react similarly to stocks due to their perception as risky assets. Jung commented, “The initial drop may be an overreaction, but if tensions persist, volatility will continue.” Justin d’Anethan, Sales Director at Liquifi, warned that if trade wars spill over to Europe, sell-offs could deepen.
Nick Ruck, Director at LVRG Research, cautioned that the cryptocurrency market could face more severe losses if the U.S. fails to reach an agreement with China. Analysts stress the need to closely monitor technical levels and macro developments in the upcoming weeks.
