Bitcoin, the world’s largest cryptocurrency by market value, continued to fall Friday as the U.S.–China trade dispute deepened.
President Donald Trump announced new export curbs on “any and all critical software” and raised tariffs on Chinese exports to 100%, responding to Beijing’s earlier restrictions on rare earth minerals vital for tech manufacturing.
The move rattled global financial markets. The S&P 500 Index plunged more than 2%, reflecting investor concern over renewed trade tensions.
At 17:20 ET (2120 GMT), Bitcoin traded at $104,782, down 8.4%, while Ethereum, the world’s second-largest cryptocurrency, fell 5.8% to $3,637.
The sharp decline underscored the crypto market’s sensitivity to global economic uncertainty and policy shocks.
