Bitcoin Tumbles Below $104K as Crypto Markets Shudder Under U.S.-China Trade Heat

Crypto bulls got a cold shower today as Bitcoin sliced through the $104K support level—proof that even decentralized assets aren’t immune to old-school trade wars.

Tariff tensions trigger domino effect

When the world’s two largest economies start throwing economic punches, crypto markets duck for cover. Today’s selloff shows digital assets still dance to macro beats—no matter how much maximalists deny it.

Silver lining for diamond hands?

Every dip creates buyers, and this one’s no different. While paper hands panic, institutional wallets are likely licking their chops at sub-$104K BTC—because nothing makes Wall Street happier than buying the fear of retail investors.

Another reminder that in crypto, the only constant is volatility. And maybe the SEC’s inability to keep up.

U.S.-China tariff clash: Round 2?

Behind the price action was the flare-up of U.S. trade tensions once again after an agreement was struck earlier this month. The concerns came after President Donald TRUMP accused China in a post on Truth Social of "violating" the tariff truce between the countries.

Meanwhile, Treasury Secretary Scott Bessent said in a Fox News interview that talks had "stalled" with the Chinese representatives.

China, in response, urged the U.S. to "immediately correct its erroneous actions, cease discriminatory restrictions," BBC reported.

The cool-off between U.S. and China helped risk assets rally in May, providing a tailwind for BTC to clinch a new record high. The re-escalation now threatens to unwind some of those gains.