Tariff wars intensify economic concerns, cryptocurrency markets face selling
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cryptocurrency prices continue to fall, with Bitcoin falling to its lowest level since November last year as escalating tariff war tensions sparked concerns about the economy, offsetting U.S. President Donald Trump's statement last week in favor of cryptocurrency. Risk assets such as cryptocurrencies are under pressure over fears Trump's tariffs and government firing will undermine U.S. economic growth. U.S. stocks slumped and U.S. Treasury bonds rose as investors sought hedge. "While Trump's statement on cryptocurrency strategic reserves initially promoted optimism, the rebound quickly collapsed as macroeconomic conditions worsened and the markets showed aggressive selling," said B2C2 director Nikolay Karpenko.