Bitcoin Falls 2.5% as China Targets U.S. with Tariffs and Launches Probe Into Google.

Bitcoin (BTC) and Nasdaq futures experienced renewed downward pressure during Tuesday’s Asian market session after China imposed retaliatory tariffs on the U.S., escalating trade tensions between the two countries.

Alongside the tariffs, China also launched an antitrust investigation into Google and placed companies like PVH Corp and Illumina on its list of “unreliable entities.”

Beijing’s move included a 15% duty on U.S. coal and LNG, along with a 10% tariff on crude oil, agricultural machinery, pickup trucks, and large-engine vehicles. This action follows the recent implementation of U.S. President Donald Trump’s 10% tariffs on Chinese imports.

On Monday, Trump had provided temporary relief by announcing a 30-day pause on tariff threats against Mexico and Canada, which helped Bitcoin recover from a dip, bouncing from $92,000 to over $102,000 as traders hoped the trade dispute might de-escalate.

However, the latest tariffs from China have reignited concerns, causing Bitcoin to pull back to $98,500. Nasdaq futures have dipped by 0.6%, and the U.S. dollar index is seeing a rise as investors flock to safer assets amid the ongoing geopolitical uncertainty.