China's Export Restrictions: Gold Is Rising, Crypto Is Falling

China's Export Restrictions and the US Response

US President Donald Trump increased his reaction to export restrictions regarding rare earth elements as a result of escalating tensions with China. In this context, the US government will impose an additional 100% tariff on Chinese products starting November 1. This decision disrupts global trade balances and has caused significant volatility in financial markets.

Severe Declines in the Cryptocurrency Market

Following President Trump's announcement, there was a significant decline in cryptocurrencies. The largest cryptocurrency by market capitalization, Bitcoin, fell by 8.13% to $111,530. Additionally, alternative cryptocurrencies like Ethereum also experienced similar pressure, dropping 14.50% to $3,720. This drop created a panic atmosphere among investors and led to liquidity issues in the crypto market.

Gold Continues Its Upward Trend

In contrast, due to global uncertainty and increasing tariffs, gold prices have continued their upward trend. During the night, gold once again surpassed $4,000 per ounce, remaining a safe haven for investors. Experts predict that gold prices may rise even further in the future.

Market Uncertainty Continues

These developments reflect the effects of trade wars and economic uncertainties worldwide. The significant fluctuations between cryptocurrencies and precious metals require investors to monitor the situation closely. In particular, cryptocurrency investors are concerned about whether the market will recover.