Bloomberg "US-China Trade Tensions Rise... Impact on Risk Asset Confidence"

An analysis has emerged indicating that the US-China trade conflict is intensifying, increasing uncertainty in the cryptocurrency market.

Bloomberg reported on the 4th that "the cryptocurrency market, including Bitcoin, is facing renewed selling pressure," stating that "the selling pressure is due to heightened trade tensions between the United States and China, with both countries imposing new tariffs on each other." As the US implemented an additional 10% tariff on all Chinese imports today, China announced it would impose tariffs of 10-15% on some US imports starting on the 10th.

Bloomberg emphasized that "the (crypto) market is showing unstable trends again due to the heightened (US-China) tensions." Bloomberg explained that "investment sentiment towards risk assets has significantly weakened due to the trade war," noting that the CME Bitcoin futures open interest (OI) decreased by 4%, which signals that institutional investors are approaching cautiously." Bloomberg added, "President Trump has openly expressed a crypto-friendly stance, but it is introducing new volatility to the market."