On April 9, official Beijing increased tariffs on US goods from 34% to 84% after Washington began imposing a 104% rate on imports from China. In this context, the price of digital gold fell back to $76,000.
At the time of writing, the daily decline rate had intensified to 4.6%. The leading cryptocurrency is trading at $76,400.
Ethereum has dropped to $1450, with the rate of decline increasing to 8.4%. For other top-10 cryptocurrencies by market capitalization, this parameter varies from 2.1% to 9.1%.
The Tariff Commission of the State Council under China’s Ministry of Finance called the US actions “unilateral” and “bullying.” The agency accused Washington of violating international trade rules and undermining global economic stability.
Bernstein had previously described Bitcoin’s resilience amid tariff turbulence as “impressive.”
Earlier, former BitMEX CEO Arthur Hayes stated that new US tariffs could trigger a capital flow into digital gold.