President Trump this week accused China of stealing 220 million US voter files, a claim that sent shockwaves through financial markets and pushed Bitcoin below $63,000. The fragile superpower trade truce, already under strain, now looks even more precarious.
The accusation
Trump made the allegation during a press conference on July 16, saying Beijing had accessed a federal database containing voter registration records. He offered no immediate evidence but vowed to retaliate. The White House later said it was reviewing the matter.
Market reaction
Bitcoin dropped sharply after the news broke, falling from around $65,000 to below $63,000 within hours. The broader crypto market also slid, with major altcoins losing 3-5%. Traditional markets weren't spared either — the S&P 500 futures dipped as traders priced in renewed trade uncertainty.
Trade truce in jeopardy
The accusation comes just weeks after the US and China agreed to a temporary trade truce, pausing a series of tariff escalations. That deal was already fragile, and this new allegation threatens to unravel it entirely. If the truce collapses, both economies could face fresh tariffs and supply chain disruptions.
What comes next
China's foreign ministry has not yet responded to the claim. The White House says it will release more details in the coming days. For now, traders are watching for any official statement from Beijing — and for Bitcoin to find a floor. The next few sessions could be volatile.
