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China Imposes Sanctions on 20 U.S. Companies, Bitcoin Falls
According to a Bloomberg report, China announced sanctions against 20 U.S. defense companies and 10 executives, a move that signals its anger over the U.S. weapon sales to Taiwan. Boeing, Northrop, L3Harris Maritime Services, and Vantor are among the companies that the Chinese Foreign Ministry announced it is sanctioning.
As part of the sanction, China will freeze assets that the companies hold in the country and also ban them from doing business with Chinese entities. The BTC price has fallen amid this development, with TradingView data showing the flagship crypto is currently trading around $87,000, down from an intraday high of around $89,000.
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Source: TradingView; Bitcoin daily chart
