{"id":13100,"date":"2025-10-10T16:24:13","date_gmt":"2025-10-10T16:24:13","guid":{"rendered":"https:\/\/bitunikey.com\/news\/bitcoin-slides-below-119k-as-markets-react-to-trumps-china-comments\/"},"modified":"2025-10-10T16:24:16","modified_gmt":"2025-10-10T16:24:16","slug":"bitcoin-slides-below-119k-as-markets-react-to-trumps-china-comments","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/bitcoin-slides-below-119k-as-markets-react-to-trumps-china-comments\/","title":{"rendered":"Bitcoin slides below $119k as markets react to Trump\u2019s China comments"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Bitcoin dropped sharply, with the price breaking below $119,000 on Friday as stocks and crypto reacted to President Donald Trump\u2019s comments about China.<\/p>\n<div id=\"cn-block-summary-block_4926c32a93277eed7379aa1d16aac6e0\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Bitcoin fell sharply on Friday to touch lows of $118,500 amid losses on Wall Street.<\/li>\n<li>Dow Jones plunged more than 500 points, with U.S. stocks sliding amid broader market downturn.<\/li>\n<li>Losses across stocks and crypto followed President Donald Trump\u2019s latest comments on China, including threats to cancel a planned meeting with Xi Jinping.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Bitcoin\u2019s price, which had moved to $122,000 as U.S. stocks opened higher, slumped as the equity market plummeted in reaction to Trump\u2019s criticism of China regarding global rare-earth metals.<\/p>\n<h2 class=\"wp-block-heading\">What did Trump say?<\/h2>\n<p>On Friday, Trump took to his Truth Social account to comment on what he termed China\u2019s increasingly hostile stance on rare-earth metals.<\/p>\n<p>According to Trump, Beijing has dispatched letters to various countries threatening further export controls on rare earths. Trump threatened to cancel an anticipated meeting with China\u2019s Xi Jinping.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe have been contacted by other Countries who are extremely angry at this great Trade hostility, which came out of nowhere. Our relationship with China over the past six months has been a very good one, thereby making this move on Trade an even more surprising one. I have always felt that they\u2019ve been lying in wait, and now, as usual, I have been proven right!\u201d Trump <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/115350455734003647\" target=\"_blank\" rel=\"nofollow\">posted<\/a>.<\/p>\n<\/blockquote>\n<p>He noted that China isn\u2019t the only one with monopoly positions, as the U.S. does too, and said its position is \u201cmuch stronger and far-reaching.\u201d Trump also mentioned an upcoming meeting with Xi.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI was to meet President Xi in two weeks, at APEC, in South Korea, but now there seems to be no reason to do so.\u201d<\/p>\n<\/blockquote>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">Bitcoin retests $118,500 level<\/h2>\n<p>As the Dow Jones tanked by over 500 points, Bitcoin (BTC) fell more than 2% to near $118,560 across major exchanges.\u00a0<\/p>\n<p>The benchmark cryptocurrency traded just under the $119,000 mark at the time of writing. However, with Trump\u2019s latest salvo against China triggering jitters around a potential new trade war between the United States and China, it is likely that bears could eye further downside.<\/p>\n<p>Bitcoin\u2019s daily trading volume was up 13% to over $74 billion.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin dropped sharply, with the price breaking below $119,000 on Friday as stocks and crypto reacted to President Donald Trump\u2019s comments about China. Summary Bitcoin fell sharply on Friday to&hellip;<\/p>\n","protected":false},"author":1,"featured_media":342,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=13100"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13100\/revisions"}],"predecessor-version":[{"id":13101,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13100\/revisions\/13101"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/342"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=13100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=13100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=13100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}