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Trump's Tariff Announcement Triggers Bitcoin Plunge and Market ...
2025-10-11 04:40:11
Blockchain
Economy
Markets

Trump's Tariff Announcement Triggers Bitcoin Plunge and Market Panic

The announcement of a 100% tariff on China by US President Donald Trump sent shockwaves through the cryptocurrency market, leading to a drastic decline in Bitcoin's price, which plummeted to $102,000. This sudden move reignited fears of trade tensions, reminiscent of earlier tariff announcements that had similarly affected market stability.

As a result, over $2 billion in long positions were liquidated, reflecting widespread panic among investors. Other cryptocurrencies like Ether and Solana also faced significant losses, contributing to an overall market capitalization drop of nearly 15%.

Exchanges such as Binance and Coinbase entered emergency modes to manage the sell-off, highlighting the strain on trading systems. Despite the turmoil, some analysts see potential for recovery, citing historical trends that suggest Bitcoin may rebound by up to 21% in the coming week.

As global markets reacted with declines in stock indices and a shift towards safe-haven assets, the uncertainty prompted investors to reassess their strategies in an ever-evolving economic landscape.

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Recent tensions between the United States and China have escalated significantly, particularly regarding trade policies and export controls. China has announced new fees for U.S.-linked vessels at its ports, a direct response to tariffs imposed by the U.S. This retaliatory measure highlights the ongoing tit-for-tat approach both nations are taking in their economic relations. President Trump has threatened to cancel an upcoming meeting with Chinese President Xi Jinping, citing China's restrictions on rare earth exports as a primary concern. These resources are vital for various high-tech industries, including electric vehicles and semiconductors. Trump's strong rhetoric has led to a notable decline in U.S. stock markets, with significant drops in major indices reflecting investor anxiety over potential new tariffs. Analysts suggest that these developments indicate a deteriorating relationship, with both countries seeking leverage ahead of critical discussions. The situation remains fluid, with both sides poised for further actions that could deepen the trade conflict.

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US President Donald Trump has announced a significant escalation in the trade tensions between the United States and China by imposing additional tariffs of 100% on Chinese imports. This decision is a direct response to China’s restrictions on the export of rare earth elements, which are crucial for various high-tech industries and military applications. The new tariffs are set to take effect on November 1, adding to the existing 30% duties and raising concerns about a renewed trade war between the two economic giants. Trump's move also includes plans for export controls on critical software, further complicating global trade relations. The decision follows the cancellation of a planned meeting with Chinese President Xi Jinping, highlighting the growing friction between the two nations. The announcement has already impacted global markets, with notable declines in the cryptocurrency sector, as investors react to the increased uncertainty. China has justified its export controls citing national security concerns, particularly regarding the use of rare earth elements in military applications. As tensions rise, the global economic landscape faces potential disruptions, with stakeholders closely watching the developments and their broader implications on international trade and economic stability.

Read 7 more recent news on this topic

The press radar on this topic:

Cointelegraph.com News
10. Oktober 2025 um 21:36

Bitcoin plummets to $102K on Binance as Trump announces 100% tariffs on China

US President Donald Trump's announcement of 100% tariffs on China sent Bitcoin prices plummeting to $102,000 on Binance, with fears of a broader trade and market sell-off. The move reignited concerns sparked by Trump's first tariff announcements in April, which caused shockwaves through crypto markets. Other cryptocurrencies, including Ether and Solana, also experienced significant losses, with the global crypto market capitalization decreasing by 11.80% over the last 24 hours.
Cointelegraph.com News
10. Oktober 2025 um 19:44

Price predictions 10/10: BTC, ETH, BNB, XRP, SOL, DOGE, ADA, HYPE, LINK, SUI

Cryptocurrency prices are fluctuating. Analysts remain optimistic about Bitcoin (BTC) despite its fall below $116,000. The 20-day exponential moving average (EMA) is a crucial support level for BTC to defend. Ether's price has turned down and reached solid support at $4,060, while Cardano's price has been pulled below its descending channel pattern. Solana's price could drop or break above its ascending channel, while Sui's price may reach the downtrend line if buyers push above the moving ave..
The Defiant
10. Oktober 2025 um 21:42

Crypto Markets Plummet as BTC Briefly Drops Below $106K

The broader crypto market plunged sharply on Friday evening, with Bitcoin (BTC) falling 12% as low as $105,896, and Ethereum (ETH) slipping 17% under $3,600 amid renewed risk-off sentiment. Major altcoins followed suit, dragging total crypto market capitalization down about 15% to $3.59 trillion, according to CoinGecko data. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
The Street
14. Oktober 2025 um 08:42

Crypto markets violently crash after Trump's latest tariffs

The crypto market experienced a massive crash following President Donald Trump's announcement of a 100% tariff on China. Within an hour, $7.5 billion in positions were liquidated, with Bitcoin leading the losses at $1.83 billion. The total crypto market capitalization fell around 13% to $3.59 trillion within 24 hours, with BTC and ETH experiencing significant drops of 6.64% and 10.79%, respectively.
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