Bitcoin (BTC) saw volatility after the Aug. 2 Wall Street open amid ongoing market reactions to tensions between the United States and China.
BTC price U-turns as Pelosi lands in Taipei
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking above $23,000 on the day as news came in that Nancy Pelosi, speaker of the U.S. House of Representatives, had landed in Taipei, Taiwan after warnings of retaliation from Beijing.
The visit, which had raised concerns of a major incident occurring, appeared to go without a hitch — something an analyst at major banking giant JPMorgan had previously said would spark a market rally.
she made it, pump the markets pic.twitter.com/Os09HTGIoc
— Fomocap (@fomocapdao) August 2, 2022
Both the S&P 500 and Nasdaq Composite Index were slightly higher at the time