(Reuters) -Bitcoin, the world's largest cryptocurrency by market value, was down by around 5.5% at $114,505 at 1658 ET (2058 GMT) on Friday. (Reporting by Ruchika Khanna in Bengaluru; editing by Diane
Bitcoin Drops to $104,782 as Trump Intensifies US-China Trade Tensions
Impact of Trade War on Cryptocurrency
(Reuters) -Bitcoin, the world's largest cryptocurrency by market value, extended declines on Friday after U.S. President Donald Trump escalated his trade conflict with China.
Bitcoin's Market Performance
Trump on Friday said he was raising tariffs on Chinese exports to the U.S. to 100% and imposing export controls on "any and all critical software" in a reprisal to recently announced export limits by China on rare earth minerals critical to tech and other manufacturing.
Ethereum's Response to Market Changes
The spat shook global financial markets, sending the benchmark S&P 500 Index sliding by more than 2%.
Overall Financial Market Reactions
Bitcoin was last down 8.4% at $104,782 as of 17:20 ET (2120 GMT).
Ethereum, the world's second-largest cryptocurrency, fell 5.8% to $3637 at 17:21 ET.
(Reporting by Ruchika Khanna in Bengaluru; editing by Diane Craft)
