Bitcoin recovered slightly after hitting a three-and-a-half-month low at the weekend on renewed U.S.-China trade tensions. President Trump on Friday threatened to impose an additional 100% tariff on Chinese imports from next month, hitting risk appetite.
However, in a social media post Sunday, Trump said: “don’t worry about China, it will all be fine.” Adding that the U.S. wants to help China.
Deus X Pay’s James Madden said in a note that the market is “balancing between fears of extended trade tensions and optimism that the tariff escalation may be a temporary bargaining tactic.”