Bitcoin fell over 4% as China imposed sanctions on U.S.-linked subsidiaries of South Korean shipbuilder Hanwha Ocean, escalating tensions with the U.S. The sanctions were a response to U.S. Section 301 tariffs targeting Chinese maritime industries. This development led to a broader market decline, with the overall crypto market down 2% and Hanwha's shares plummeting 8%. Despite the initial drop, Bitcoin managed to recover some losses, trading at $113,334.40, though it remained down 1.61% over the past 24 hours. The geopolitical tensions have added volatility to the crypto markets, reflecting investor concerns over potential economic impacts.