Solana drops 5%, bitcoin below $80,000 as Xi warns Trump on Taiwan conflict
CoinDesk
Bitcoin fell below $80,000 and Solana dropped 5% following inflationary pressure and geopolitical warnings from Xi Jinping to Donald Trump regarding Taiwan.Summary
Bitcoin dropped below the $80,000 support level, trading at $79,200, while Solana declined by 5.6% as broader crypto markets faced headwinds. The downturn was driven by a combination of higher-than-expected producer and consumer inflation data, which complicates the Federal Reserve’s interest rate policy, and geopolitical tensions. During a summit in Beijing, Chinese President Xi Jinping warned U.S. President Donald Trump regarding the handling of the Taiwan issue, noting the risk of potential clashes, which rattled global risk sentiment.
(Source：CoinDesk)