Bitcoin slides below $108,000; volatility to continue amid US-China tensions: analyst

Bitcoin fell below $108,000, dropping 2.6% to $107,854, as traders reacted to ongoing macroeconomic risks, primarily trade tensions between the U.S. and China. Jeff Mei, COO at BTSE, stated that market volatility will persist as long as these tensions exist, noting that recent declines were driven by traders derisking before a scheduled meeting between Xi Jinping and President Trump. Major altcoins also declined, and spot crypto ETFs experienced significant net outflows, contributing to The Block's Fear and Greed Index resting at 29 (fear). Mei advised investors to diversify and hedge against uncertainty, as macro developments remain unpredictable. Market participants are now awaiting Friday's consumer price index data for inflation insights, with the CME FedWatch Tool showing a high probability of a Federal Reserve rate cut.

(Source：The Block)