Bitcoin loses steam as Trump suggests China trade deal collapse
Donald Trump said on Truth Social that China has “totally violated” its trade deal, ending what he called a phase of “stabilization” for Beijing. The post, published at 8:09 A.M. ET Friday, warned that the United States is “no longer Mr. Nice Guy”.
Minutes later, equity futures turned lower. At 8:13 A.M. ET, the Dow Jones Industrial Average contract fell 0.6 % to 41,961, the S&P 500 slipped 0.7 % to 5,870, and the Nasdaq-100 was down 0.8 % to 21,196, according to data shared by The Kobeissi Letter. The small-cap Russell 2000 lost 0.9 %.
Bitcoin, which had climbed above $106,000 during Asian hours, eased to $105,400 after the remarks, trimming an early rally.
The statement comes two weeks after Trump said U.S. tariffs had pushed China to the brink, caused factories to close, and created “civil unrest” before an alleged “fast deal” restored trade flows. No details of the supposed breach, civil unrest, or factory closings were provided, and Beijing had not responded by publication time.
Markets read fresh trade tension as a headwind for global demand. Bitcoin’s move underlines the asset’s continued sensitivity to macro headlines as it consolidates near all-time highs.
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