The global trade tensions caused a steep . The US raised tariffs on EU imports to 20%, on Japanese products to 26%, and on Chinese products to 34%. Bitcoin fell below $80,000, US stock futures declined more than 5%, and Asian indexes such as Nikkei and Hang Seng fell 6% and 9%.
Volatility increased as risk assets were dumped by investors. Crypto liquidations hit $250 million over 24 hours, the highest since March 7. Bearish technical indicators, such as a “death cross” on BTC charts, further dampened sentiment. Cryptocurrencies, being risk assets followed the losses in traditional markets. Thus, highlighting deep connections between global finance and digital assets.
