Bit360

10/21 10:27

Bitcoin Plunges Below $105,000: Trump's Tariffs

Bitcoin Plunges Below $105,000: Trump's Tariffs on Chinese Imports Spark Massive Selloff

The cryptocurrency market collapsed after US President Donald Trump announced 100% tariffs on all Chinese imports, sharply escalating the trade standoff between Washington and Beijing.

This news sparked panic across global financial markets – stocks fell, commodity prices plummeted, and cryptocurrencies experienced one of the most volatile days of 2025.

🔹 Bitcoin and Ethereum Plunge

Just a few hours after Trump's announcement, Bitcoin fell to $104,582, then partially recovered to $114,000, a loss of about 6% in 24 hours.  Ethereum also fell, reaching $3,460 before rising to $3,880, posting a nearly 12% daily decline.

The sell-off also affected other popular cryptocurrencies such as Cardano, Chainlink, and XRP, as investors began to reduce risk amid growing uncertainty in the global economy.

🔹 Over $700 Million in Liquidations

Over $706 million in margin positions were liquidated in the last 24 hours—the largest single-day wave of liquidations in 2025.

Of this, approximately $648 million were long positions held by traders expecting Bitcoin to rise above $120,000.

When the price sharply declined, the mass stop-loss orders triggered a chain reaction of forced selling, exacerbating the marketwide decline.

 🔹 Volatility and technical glitches

A sharp increase in trading activity has led to system overload and temporary outages on major crypto platforms.

Despite this, exchange representatives assured users that their funds are safe and that services are gradually stabilizing.

🔹 What's next

Analysts warn that the market could remain volatile as long as trade tensions between the US and China persist.

Beijing has already announced plans to introduce new export restrictions starting November 1, 2025, which is perceived as a response to Washington's actions.

Market participants are currently closely monitoring three key factors:

1. Future monetary policy decisions by the US Federal Reserve,

2. China's response and the timing of its export measures,

3. Possible diplomatic attempts to defuse the conflict between the two countries.

 Experts note that further market dynamics will determine whether the current decline is merely a short-term panic or the beginning of a deeper decline. Everything will depend on how Washington and Beijing behave in the coming weeks.

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