Bitcoin Slides as China Hits Back With Full-Scale Tariffs on U.S. Imports

Tensions between the world’s largest economies intensified Friday as China imposed retaliatory tariffs on all U.S. goods, deepening global risk aversion during European trading hours.

The escalation came in response to President Trump’s decision to hike tariffs on Chinese imports to 54%, announced Wednesday. The impact was immediate: Bitcoin (BTC), which briefly touched $84,600, dropped sharply to $83,000, erasing its early gains. Other major tokens, including XRP, ETH, SOL, and DOGE, followed the same path, turning flat on the day.

Meanwhile, futures on the S&P 500 and Nasdaq both plunged over 2%, signaling broader market unease.

“This is not just a bilateral issue anymore — China’s response carries global consequences,” noted ForexLive analyst Justin Low, emphasizing the far-reaching implications of the renewed trade conflict.

Investors now turn their attention to the upcoming U.S. jobs data, which could add fuel to already volatile markets.