Trade War
Bitcoin crashes amid trade war renewal and market fears
Imeripotiwa na AI Picha iliyoundwa na AI
Bitcoin has entered a bear market, dropping over 30% from its early October peak of around $126,000, following a flash crash triggered by President Trump's renewed trade war with China. The cryptocurrency wiped out $1 trillion in value over six weeks, with a single-day loss of $19 billion on October 10 due to panic selling and liquidations. While recovering slightly to about $88,000 on Monday, concerns over Federal Reserve rate decisions and leveraged positions continue to unsettle investors.
Bitcoin has held steady around $93,000, but the cryptocurrency market is preparing for potential volatility. This comes as global leaders at the Davos forum discuss trade war rhetoric, including tariff headlines. A Kraken executive has warned of a bumpy week ahead for crypto investors.
Imeripotiwa na AI
Tesla is directing suppliers to exclude China-made components from vehicles built in the United States, according to reports. The company has already replaced some parts and plans to complete the transition within one to two years. This move accelerates amid escalating US-China trade tensions.