Trade Tensions Between the U.S. and China Spark Crypto Market Decline

• Trade tensions spark crypto market decline, with major coins seeing losses.
• China urges U.S. cooperation as new tariffs intensify economic strain.
• Speculation rises as “Trump Insider Whale” reopens Bitcoin short positions.

The ongoing trade negotiations between the U.S. and China have once again cast a shadow over the crypto market. As trade tensions continue to rise, the market has experienced a large downturn, with major cryptocurrencies such as Bitcoin, Ethereum, and Solana facing large losses. This development follows the announcement of new tariffs by U.S. President Donald Trump, which has intensified concerns among investors.

Chinese Commerce Minister Wang Wentao has called on the U.S. to engage in constructive dialogue to address the ongoing trade issues. In a statement reported by Reuters, Wang emphasized the importance of cooperation between the two nations, urging the U.S. to approach the talks with an open mind and a focus on mutual benefit. According to Wang, both sides must work on “equal footing” to resolve the economic challenges arising from the recent tariff decisions.

This statement is made in light of the escalating tensions between the two countries following Trump’s announcement of a 100% tariff on Chinese imports, set to take effect on November 11. Trump’s remarks have stoked fears of a prolonged trade war, with both nations pointing fingers at each other. While China blames U.S. policies for the strained economic relations, the U.S. accuses China of attempting to undermine the global economy with its export controls.

Crypto Market Faces Pressure Amid Tariff Announcement

The announcement of the new tariffs has contributed to a decline in the crypto market. According to data from TradingView, the market capitalization dropped by over 2% in a single day, now standing at $3.63 trillion. Bitcoin, the leading cryptocurrency, has seen its price dip below $108,000 after reaching a high of $111,000 earlier in the day. Other major altcoins, including Ethereum, Solana, XRP, and Dogecoin, have also experienced significant losses in the last 24 hours.

Bitcoin’s price faced further pressure following the announcement of the tariffs, dipping to $104,000 last week before making a brief recovery. Despite this rebound earlier in the week, the market remains volatile, with traders closely monitoring any further developments.

Speculation Grows as ‘Trump Insider Whale’ Reopens Short Positions

The ongoing uncertainty in the market has also led to speculation about the actions of the “Trump Insider Whale,” a trader known for making significant profits by shorting Bitcoin and Ethereum before the announcement of the tariffs. The whale has reportedly reopened short positions, raising concerns about the possibility of another market crash. This move has heightened the sense of caution among crypto investors, as they brace for possible further declines.

As the U.S. and China continue their negotiations, all eyes are on the forthcoming announcement by President Trump, which is expected to address the trade tensions. Whether the two countries can resolve remains uncertain, but the impact on the crypto market is already being felt.