Türkçe
Español
The rapid decline of Bitcoin 
$120,795 and altcoins has triggered concerns as the recent financial maneuvers intensify market instability. The falling value of cryptocurrencies seemed inevitable due to political games played by influential figures. This trend began after a striking confirmation that Bitcoin’s goal of $106,800 remains out of reach in the short term. This series of developments holds a common origin—Donald Trump’s strategic actions.
Triggers Behind Crypto Market Decline
A significant catalyst in this downturn is Trump’s recent actions towards China, mirroring his previous approach toward the European Union. Unlike the EU’s cautious stance, China is adopting riskier measures, exacerbating market volatility. The warnings issued before the deepening downturn were already apparent when the U.S. market opened yesterday, leading to today’s intensified decline.
Trump’s pronouncements about China’s alleged contract breaches added fuel to the fire amid ongoing tariff conflicts. This situation drew sharp reactions from China, as reiterated by a spokesperson from the Chinese Embassy. The diplomatic dialogue between China and the U.S. continues across multiple platforms, highlighting mutual economic concerns.
Impact of U.S. Export Controls on Semiconductor Sector
In response to these developments, White House personnel emphasized Trump’s hope for cooperation with China and indicated further details would be provided by U.S. Trade representatives. The U.S. vows not to facilitate China’s acquisition of production capacities and insists on holding China accountable through various means.
Earlier reports had also mentioned China’s attempts to restrict chip exports essential for artificial intelligence advancement, seen as a potential market downturn trigger. Well-informed insiders suggest plans to enforce licensing rules on business dealings involving firms under existing U.S. sanctions.
Adding to the unrest, Trump made contentious statements about the Congressional Budget Office (CBO), accusing it of presenting deliberately conservative growth estimates. His remarks implied that these projections underestimated potential revenue growth, further fueling financial uncertainty. Shortly after such incendiary statements, Bitcoin dove to $104,000.
In a positive development towards the end of this turbulence, FTX announced the commencement of a $5 billion return to creditors, signaling some financial relief. As funds are expected to be distributed within 1-3 business days, this may allow creditors to reassess their positions in currently undervalued altcoins pending improvement in their risk appetite.
