Bitcoin Tumbles Below $104K as Crypto Markets Wobble Amid U.S.-China Trade Spat

Crypto bulls got a reality check as Bitcoin sliced through the $104K support level—proof even digital gold isn’t immune to old-school trade wars.

Tariff tensions trigger sell-off: Traders dumped risk assets faster than a hot NFT project after the U.S. and China exchanged economic jabs, reminding everyone that ’decentralized’ doesn’t mean ’detached from geopolitics’.

Silver lining for degens: This dip just might be the discount window Wall Street whales pretend doesn’t exist when they’re shilling their tokenized debt products.

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.