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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
10/11/2025

Bitcoin Plunges to $102,000 After Trump Imposes 100% Tariffs on China

The crypto market was rocked over the weekend as Bitcoin (BTC) on Binance dropped to $102,000 after President Donald Trump announced 100% tariffs on Chinese goods. The move reignited fears of a new U.S.-China trade war, triggering a broad selloff across risk assets. Key Developments: Bitcoin Loses Nearly $10,000 in Just Hours Shortly after Trump's announcement, the BTC/USDT trading pair on Binance Futures plunged sharply dow

Bitcoin Plunges to $102,000 After Trump Imposes 100% Tariffs on China

The crypto market was rocked over the weekend as Bitcoin (BTC) on Binance dropped to $102,000, after President Donald Trump announced 100% tariffs on Chinese goods. The move reignited fears of a new U.S.-China trade war, triggering a broad selloff across risk assets.

Key Developments: Bitcoin Loses Nearly $10,000 in Just Hours

Shortly after Trump's announcement, the BTC/USDT pair on Binance Futures plunged to $102,000 — its lowest level since late June 2025.
Spot prices on Coinbase also hit an intraday low of $107,000, while data from CoinGlass showed $9.4 billion in positions liquidated within 24 hours, of which $7.15 billion were losing long positions.

The damage wasn't limited to Bitcoin — the entire crypto market turned red:

  • Ethereum (ETH) dropped to $3,500, down more than 12%.
  • Solana (SOL) fell below $140, losing more than 14%.
  • Total crypto market cap shed 11.8%, falling to $3.64 trillion.

Background: The White House's Tariff Salvo and Beijing's Response

In a post on Truth Social, Trump said the decision was a response to China "preparing to impose large-scale export controls on virtually all products," including rare earth minerals — critical inputs for manufacturing semiconductor chips, AI hardware, and crypto mining equipment.

Trump called Beijing's actions "extremely hostile" and vowed the U.S. would "protect its national economic interests at all costs."
This marks the second round of tariffs the Trump administration has announced in 2025, following the first wave in April that rattled global markets.

Impact: "Risk-Off" Sentiment Spreads Across Markets

Analysts warn that 100% tariffs could trigger a broad flight from risk assets, reminiscent of the 2018–2019 trade war era.
David Linh, an analyst at Hyblock Capital, commented:

"Trump's tariffs don't just hit goods trade — they affect the global chip supply chain, which is essential for AI, high-tech, and crypto mining alike."

China's grip on rare earth supplies could drive up chip production costs significantly, weighing on Bitcoin mining efficiency and profitability, while also pressuring tech companies across the U.S. and Asia.

Outlook: Markets Need a New Psychological Anchor

With Bitcoin currently trading around $105,000–$108,000, investors are watching closely to see whether this pullback is temporary or the start of a prolonged downturn.
Technical analysts caution that if Bitcoin loses the $100,000 level, sentiment could firmly shift to "risk-off" and push the broader crypto market into a deeper correction.

That said, some analysts argue the current price range may offer an accumulation opportunity — provided trade tensions don't escalate further.

Conclusion

Bitcoin's sharp drop following Trump's tariff announcement underscores the crypto market's growing sensitivity to geopolitical developments. As U.S.-China tensions flare up again, investors should exercise caution around short-term volatility and keep a close eye on trade policy — it has become one of the most powerful forces shaping digital asset prices today.