According to Crypto Rover, Bessent has stated that an unfortunate escalation has occurred with China, raising concerns among global investors and triggering immediate volatility across major cryptocurrency markets. This development has led to increased trading volumes and sharp price movements in Bitcoin and Ethereum, as traders react to potential disruptions in cross-border capital flows and global risk sentiment (Source: Crypto Rover on Twitter, May 12, 2025). Market participants should monitor developments closely, as further geopolitical tensions could impact crypto liquidity and drive safe-haven demand.