Crypto Market Sheds $150 Billion as China Hits Back at the US
The cryptocurrency market experienced a significant decline, shedding $150 billion in value, amid escalating trade tensions between China and the United States. The selloff was triggered by a historic round of liquidations, leading to a sharp drop in the prices of cryptocurrencies. The crypto market's decline was driven by the ongoing trade tensions between the two economic superpowers, which have weighed heavily on risk assets. Investors became cautious and sought safer havens, leading to a sell-off in the crypto market. The article notes that the downturn in the cryptocurrency market has been persistent, with prices continuing to decline in the aftermath of the weekend's selloff. The event highlights the vulnerability of the crypto market to broader economic and geopolitical factors, underscoring the need for investors to exercise caution and diversify their portfolios.
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