Bitcoin (BTC) and Nasdaq futures saw a fresh wave of selling pressure during Tuesday’s trading session in Asia after China retaliated with new tariffs on U.S. goods, intensifying trade tensions.

In addition to the tariffs, China initiated an antitrust investigation into Google and added firms like PVH Corp and Illumina to its “unreliable entities” list, signaling a further escalation in the ongoing economic standoff.

The new tariffs imposed by Beijing include a 15% duty on U.S. coal and LNG, as well as a 10% tariff on crude oil, agricultural machinery, and certain vehicles. These actions followed the implementation of U.S. President Donald Trump’s 10% tariffs on Chinese imports earlier this week.

While Bitcoin had rallied earlier, climbing from $92,000 to $102,000 after Trump temporarily eased tensions with a 30-day pause on tariffs against Mexico and Canada, China’s latest move has put pressure on the cryptocurrency, causing it to retreat to around $98,500. Nasdaq futures have dropped by 0.6%, and the U.S. dollar index has risen as traders seek safety in the face of growing uncertainty.