Technical analysis by Mark-Rocket about Symbol BTC: Sell recommendation (9 hour ago)

The world's two largest economies continued their battle over key industries related to defense and national security. Washington and Beijing renewed their battle on Tuesday after China decided to sanction five US subsidiaries of Hanwha Ocean, a South Korean shipbuilder, for alleged ties to the US government. Hanwha's stock price plummeted 8% on the news, while Bitcoin fell 4% before recovering in the afternoon. (China accuses Hanwha Marine, a South Korean shipbuilding company, of assisting the US in a Section 301 investigation / Hanwha Marine) A formal announcement from China's Ministry of Commerce stated: "In response to the US's Section 301 investigation measures against China's marine, logistics, and shipbuilding sectors... we hereby announce the imposition of countermeasures against five subsidiaries of the US-related Hanwha Marine Co., Ltd., effective October 14, 2025." Section 301 of US trade law allows the government to respond to unfair trade practices. The US alleges that China is secretly engaging in unfair activities aimed at dominating the marine, shipbuilding, and logistics industries. Beijing has been accused of subsidizing these industries and even employing "forced technology transfer" to "reinvent [foreign] technology." The United States subsequently imposed service fees and tariffs of up to 150% on Chinese marine products. Beijing retaliated with higher service fees and, today, sanctioned Hanwha's US subsidiary, accusing it of assisting Washington's investigation. "A Google Translated version of the official Chinese announcement states: 'The US Section 301 investigations and measures against China's marine, logistics, and shipbuilding industries seriously violate international law,' and 'Hanwha Marine's US subsidiary assisted and supported the US government's investigation, endangering our country's sovereignty, security, and development interests.'" Bitcoin and Hanwha stock weren't the only assets affected by the news. The broader cryptocurrency market fell 2%, and stocks experienced some volatility following the announcement, but subsequently recovered. However, the Nasdaq remained down 0.18% at press time. At the time of writing, it was trading at $112,334.40, having earlier plummeted to $110,029.49 following the Chinese announcement. The cryptocurrency is down 7.55% this week, despite having risen as high as $116,020.49 since Monday. FAQ ⚡ Why is Bitcoin down today? Bitcoin fell over 4% after China announced sanctions against a subsidiary of South Korea's Hanwha Ocean, which has ties to the US. What sparked the US-China dispute? Washington imposed steep Section 301 tariffs on China's marine industry, prompting Beijing to retaliate. How severe was the market reaction? The overall cryptocurrency market fell around 2%, with Bitcoin briefly dipping to $110,000 before recovering somewhat. What is Section 301? It's a US trade law that allows tariffs to be imposed on countries accused of unfair or coercive trade practices.