The Bitcoin value and your complete crypto market suffered one of many greatest crashes in historical past once more in 2025. The premier cryptocurrency, which had been struggling all day on Friday, October 10, finally succumbed to bearish stress after United States President Donald Trump introduced 100% tariffs on Chinese imports.
The remainder of the cryptocurrency market additionally confronted vital downward stress, with the costs of different large-cap property nosediving following the US tariff information. According to information from CoinGlass, almost $10 billion value of open curiosity was erased from the crypto market within the largest single-day liquidation occasion in historical past.
Trump Imposes 100% Tariff On Chinese Goods
In an October 10 put up on the Truth Social platform, Trump declared a 100% commerce tariff on Chinese items, over and above any tariff that they’re at present paying. Trump stated the tariffs have been in response to China’s try to put export restrictions on uncommon earth minerals, that are essential for creating pc chips.
Trump stated:
It has simply been discovered that China has taken an awfully aggressive place on Trade in sending a particularly hostile letter to the World, stating that they have been going to, efficient November 1, 2025, impose large-scale Export Controls on just about each product they make, and a few not even made by them.
Source: @actualDonaldTrump on Truth Social
Trump claims that China’s choice to impose these export controls impacts all nations and was a plan devised by them years in the past. The US will impose Export Controls on any and all vital software program on November 1, or sooner, relying on additional actions by China, the President wrote on Truth Social.
According to recent reports, Trump later stated that he’s nonetheless open to assembly with Xi Jinping, President of the People’s Republic of China. The US President stated he may raise the commerce tariff if China walks again on its choice earlier than November 1.Â
Trump first introduced the imposition of commerce tariffs on nations, particularly China, in April 2025, sending shockwaves via cryptocurrency and equities markets. This choice was adopted by the downturn of the worth of Bitcoin to round $77,000.
Bitcoin Price At A Glance
As of this writing, the worth of Bitcoin stands at round $112,581, reflecting a 7.6% decline up to now 24 hours. According to information from CoinGecko, the flagship cryptocurrency is down by over 8% within the final seven days.
The value of Bitcoin on the each day timeframe | Source: BTCUSDT chart on TradingView
Featured picture from iStock, chart from TradingView
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