Crypto markets violently crash after Trump’s latest tariffs
The crypto market witnessed the liquidation of more than $7.5 billion worth of positions within an hour following President Donald Trump’s decision to impose 100% tariffs on China.
According to the latest information Coinglass dataDuring this period, long positions of $6.22 billion and short positions of $1.29 billion were deleted.
Bitcoin It led and followed with liquidations of $1.83 billion. Ethereum With 1.68 billion dollars, solana with 614.38 million and XRP with $432.46 million.
When we look at the last 24 hours, we see that more than 9 billion dollars have been withdrawn from the cryptocurrency market. During this period, long positions of $7.5 billion and short positions of $1.5 billion were deleted.
In total, 1.4 million investors liquidated their trading positions in the last 24 hours.
HTX crypto exchange saw the single largest liquidity of $87.53 million in BTC/USDT.
The crypto market wipeout is the worst since at least the beginning of April.
Related: LIVE: Bitcoin falls to $107K on Trump’s 100% China tariffs
At the time of writing, BTC was changing hands at $113,553.35, down 6.64% in 24 hours.
ETH traded at $3,896.53, down 10.79%. At press time, XRP was trading at $2.32, down 17.15%.
Total crypto market capitalization dropped nearly 13% in one day to $3.59 trillion.
Trump announced in his Truth Social post that the US will impose 100% tariffs on China starting on or before November 1. He said he decided to counter China’s “aggressive attitude” on trade.
Especially the Asian superpower new export controls on rare earth minerals.
“Ultimately, although potentially painful, it will ultimately be a very good thing for the United States.”
Trump also threatened to cancel the upcoming APEC meeting in South Korea with his Chinese counterpart, President Xi Jinping.
Related: Market shaken after Trump’s new China tariffs
This story was first reported by: Street First appeared on October 10, 2025 Business News section. Add TheStreet at: Preferred Source by clicking here.
