• China tensions hit bitcoin price
    Bitcoin,  Politics

    Markets Report: Bitcoin price down from two-week highs as China tensions spook markets

    A trip above $9,400 soon comes to an end as concerns mount over the impact of U.S.-China sparring on equities and safe havens

    Bitcoin was fighting to preserve gains after hitting $9,400 on July 22, as fresh macro tensions appeared to put strain on bulls. Stock markets, to which the cryptocurrency continues to show significant correlation, were wobbly amid fresh tensions between the U.S. and China. Uncertainty over the latest $1 trillion coronavirus stimulus package added to the sense of foreboding which saw markets shed value.