Bitcoin Falls to 12-Day Low as Cryptocurrency Market Loses $200 Billion in 48 Hours

According to ChainCatcher, citing data from CoinGecko as reported by CryptoPotato, the cryptocurrency market has lost approximately $200 billion in the past two days, with the market capitalization dropping to $3.36 trillion.

As tensions between China and the US escalate, the price of Bitcoin, after reaching a recent high of nearly $112,000, has fallen to a multi-week low, now slightly above $103,000.

Following US President Donald Trump's proposal to impose new tariffs on the EU, the Eurozone economy began to decline, and this decline was further exacerbated after he accused China of violating trade agreements.