Bitcoin Volatility Surges Amid U.S.-China Trade Tensions
Bitcoin's recent volatility stems from macroeconomic tensions, particularly U.S.-China trade issues, rather than internal crypto dynamics. The U.S. market pullback followed a rally, as optimism over a tariff pause faded, shifting investor focus to broader economic concerns. This anxiety spilled into crypto, causing substantial liquidations. Bitcoin led with $465.5 million in positions liquidated over 24 hours, affecting 134,811 traders, as per CoinGlass. A $3.33 million BTC/USDT position on Bybit highlighted the risks. While altcoins like XRP and DOGE were hit, Bitcoin remained the volatility anchor. The U.S. inflation report had little impact, but fears of a potential recession due to escalating trade wars persist.
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