Bitcoin Sinks and Stocks Rise After US, China Scale Back Tariffs
Bitcoin dipped after hitting a four-month high of $105,500, following the announcement of a partial tariff pause between the U.S. and China. The U.S. and China agreed to reduce their retaliatory tariffs from 125% to 10% for 90 days while discussions continue on trade issues, easing investor concerns about increasing prices and a potential global recession. This news initially drove Bitcoin’s price to around $102,600, marking a 1.5% decline. Meanwhile, Ethereum and Dogecoin experienced upward trajectories, with ETH rising approximately 51% over the month. The tech-heavy Nasdaq climbed 3.4% and the S&P 500 increased by more than 2.4%, reflecting optimism in global markets. Overall, Bitcoin has increased about 21% in the past month, although experts caution that the temporary truce could lead to future volatility if unresolved trade issues resurface.
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