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2d ago

China Retaliation Knocks Crypto Lower With Bitcoin Near $112,000

ETF withdrawals followed Beijing’s latest trade response, pressuring prices and liquidity.

U.S. dollar, Euro and Pound banknotes are seen in this illustration taken May 4, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
American flags are displayed on screens on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., September 22, 2025. REUTERS/Jeenah Moon/File Photo
A man walks on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., April 7, 2025. REUTERS/Brendan McDermid/File Photo
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Overview

  • Bitcoin dipped below $112,000 during Tuesday trading after China sanctioned U.S.-linked Hanwha Ocean units, renewing risk-off flows across global markets.
  • The crypto market shed roughly $150–$200 billion in value over the latest downswing, with majors like ether, solana, XRP and dogecoin posting fresh losses.
  • Derivatives stress persisted with about $630 million in positions liquidated in the past day, adding to the roughly $19 billion wiped out during Friday’s tariff-triggered cascade.
  • U.S. spot crypto ETFs saw heavy redemptions on Monday—about $326.5 million from Bitcoin funds and $428.5 million from Ethereum funds—while BlackRock’s IBIT remained an outlier with continued net inflows.
  • On-chain forensics flagged a large trader increasing short exposure to roughly 1,423 BTC and depositing another 100 BTC to Kraken, as analysts watched key bands near $110,000–$108,000 support and $115,000–$117,500 resistance.