Trump's New Duties Caused The Crypto Market To Collapse To Historic Lows
29- 12.10.2025, 8:10
- 15,018
Bitcoin, ether and solanium have been hit the hardest.
Donald Trump's threat to impose new 100% tariffs on China caused a record crypto market collapse with more than $18 billion in liquidations.
It was reported by CNN.
Bitcoin, ether and solanium were the hardest hit, being the center of a wave of forced liquidations of investors' large credit and margin positions.
Bitcoin - $5 billion worth of positions liquidated, with the price falling to $103,000 followed by a rebound to $111,600.
Ethereum (ether) - minus $4 billion, slipping from $4,365 to $3,742.
Solana - loss of more than $2 billion, falling nearly 20%, to $178.
CoinGlass said it was "the largest liquidation event in the history of cryptocurrencies."
The panic in the crypto market coincided with a sharp decline in traditional financial indices, with the Nasdaq and S&P 500 recording their worst day in six months, adding to the effect of the massive asset sell-off.
How Trump is affecting the crypto market
It's worth noting that it was Trump's policies that previously gave cryptocurrencies a boost - President:
began openly reaching out to the crypto community,
launched his own meme coin, which sparked a surge in retail attention,
announced the creation of a U.S. strategic reserve in bitcoin,
allowed the cryptocurrency to be included in 401(k) retirement plans via executive order - after which bitcoin hit an all-time high of $124,000.
The escalating trade war with China, however, has dramatically changed investor sentiment. Friday, October 10, brought a powerful collapse of the crypto market - the price of bitcoin fell to $105,801, one of the sharpest daily declines in recent months.
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