Bitcoin

The deal comes amid a global shift towards protectionism, with the EU and US imposing tariffs on Chinese EVs. China's concession on hybrid cars may be a strategic move to avoid further escalation, but it also highlights the vulnerability of global trade. For crypto, this reinforces the narrative of Bitcoin as a hedge against geopolitical instability, but with the market currently in a 'Greed' phase (Fear & Greed: 69) and BTC dominance high, altcoins may continue to underperform.

China agreed to reduce hybrid car exports to the EU following trade talks covering trade, investment, and intellectual property rights.