The virtual currency market was unable to avoid a decline. At 10 a.m. on the 11th, the price of Bitcoin was down 2.26% from the same time the previous day to $80,333 according to CoinMarketCap.
(approximately 11.52 million yen). Bitcoin, which had rebounded to $83,000 the previous day, suddenly fell to $78,707 at one point in the morning on the same day.
The reason for the decline in Bitcoin is fears of a global economic downturn due to the US-China trade dispute.
Economic uncertainty has grown, leading to a rise in risk asset aversion. On the 10th (local time), the White House announced that the total tariffs imposed on China would be higher than the previously known 125%.
The reciprocal tariff rate on Chinese imports (125%) is in addition to the 20% tariff imposed in February this year for negligence in managing the synthetic drug fentanyl, bringing the total to 145%.
The talk is of 45%. A White House official emphasized that "145% is the correct tariff rate currently on Chinese products."
Last month, the US CPI fell short of market expectations, but the cryptocurrency market decline was averted.
Typically, when the CPI comes out lower than market expectations, expectations grow for a cut in the U.S. base interest rate, which in turn drives up the prices of risky assets.
On the same day, the US Department of Labor announced that the US CPI rose 2.4% last month compared to the same month last year.
The CPI, which excludes food and energy prices that fluctuate greatly, also rose 2.8% year-on-year and 0.1% month-on-month, below market expectations.
2025/04/11 11:30 KST
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