The announcement of President Trump's tariff threat against China has caused a significant decline in Bitcoin's value, pushing it below the critical threshold of $119,000. This drop illustrates the market's immediate reaction to the resurfacing fears of a renewed trade war between the two major economies, raising concerns among investors about potential economic instability and its implications for various asset classes, including cryptocurrencies.
source: https://blocknews.com/trumps-tariff-threat-on-china-sends-bitcoin-below-119k-market-reacts-to-renewed-trade-war-fears/