Crypto Market Loses $250 Billion After Trump’s 100% Tariff on China

The crypto market lost over $250 billion in total value in less than 24 hours between October 10-11, 2025, following President Trump’s tariff announcement.
Bitcoin dropped from $122,000 to as low as $101,500, a decline of up to 16%. Ethereum fell 12-18%, and major altcoins like Solana and Sui dropped 30-80%.
Over $9.4 billion in leveraged crypto positions were liquidated, marking the largest single-day liquidation event in crypto history.

President Donald Trump announced a 100% tariff on all Chinese imports, effective November 1, calling China’s actions a

“moral disgrace in dealing with other Nations.”

The tariff announcement triggered panic selling, especially among highly leveraged positions, and was seen as the start of a full-scale U.S.-China trade war.
Analysts cited a combination of macro shocks, high leverage, and thin liquidity as key reasons behind the sharp drop.

The total crypto market cap fell from around $4.25 trillion to $3.59 trillion, a 12.88% decline.
Bitcoin dominance rose to 61.31%, reflecting a shift from altcoins back into BTC during volatility.
Platforms saw technical outages, with traders reporting forced liquidations and suspicious trading activity.

The Nasdaq dropped 3.4%, S&P 500 fell 2.7%, and Dow declined 2.9%, the steepest single-day drops since April.
Rare earth miners rallied, while tech stocks declined, as investors reacted to expected supply chain disruptions.
Institutional investors paused inflows, reducing short-term crypto market liquidity.

As of October 11, 2025, Bitcoin rebounded to around $120,000, with some recovery signs across major assets.
Trading volume surged 43% to $299.81 billion, indicating repositioning and volatility.
Markets remain volatile ahead of possible further escalation or negotiations between the U.S. and China.