US-China Domino Effect: Rp20.36 T Flees Bitcoin, Shaking the Crypto Market

The crypto market is once again turbulent, this time triggered by a "domino effect" from heating tensions between the United States (US) and China. Geopolitical tensions between the world's two economic giants have created significant negative sentiment, causing investors to massively pull funds from risky assets, including Bitcoin (BTC). 

Fantastic Fund Outflows from Bitcoin ETF

In the past week, the crypto market was heavily shaken, recording outflows of Rp20.36 trillion (around US$1.2 billion) from Bitcoin Spot Exchange-Traded Fund (ETF) products. This capital exodus became one of the main triggers for the price decline in Bitcoin and other crypto assets. 

Uncertainty stemming from the US and China, including threats of rising import tariffs and a potential trade war, has made global investors shift to assets considered safer (safe haven). As a result, Bitcoin transaction volumes experienced massive selling pressure, shaking market stability that had previously shown a positive trend in 2025. 

Geopolitical Tensions Haunt the Crypto Market

The crypto market, known for its high volatility, is indeed very sensitive to macroeconomic issues and geopolitical tensions. The heating US-China trade relationship has repeatedly triggered market shocks in the past. 

Previously, the market experienced massive liquidations worth hundreds of trillions of Rupiah when the US announced plans to raise tariffs on Chinese imports by up to 100% in October 2025. This latest incident further clarifies that Bitcoin, although often called digital gold, still behaves like a high-risk asset during a global crisis. 

What's Next?

Market analysts predict that volatility will continue as long as the uncertainty between the US and China has not subsided. Investors are now monitoring developments in negotiations and US economic data, such as the release of inflation data and the Fed's policy direction, to seek signals of stability. 

Although the market has been battered by negative sentiment, some analysts are optimistic that if tensions ease, the crypto market has the potential to rebound in early 2026.