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Bitcoin crash: Trump threatens tariffs, crypto market loses billions!
Bitcoin falls 10% after Trump's tariff announcement against China. Crypto market sees biggest decline in 2025.
Bitcoin crash: Trump threatens tariffs, crypto market loses billions!
On Friday, October 11, 2025, the crypto market experienced one of the biggest declines of the year. Bitcoin (BTC) fell by almost 10% at one point, which proved disastrous across the market. The drop came on the heels of US President Donald Trump's announcement of a 100% increase in tariffs on Chinese goods starting November 1. As a result of this decision, the crypto market lost nearly $280 billion in market capitalization.
Trump described China as “hostile” in a post on Truth Social and accused the country of wanting to dominate the market through export controls for rare earths. This caused considerable uncertainty in the markets and led to the view that further countermeasures against Chinese policies were being planned.
Market developments and impacts
Within 24 hours, Bitcoin fell above the crucial $108,000 mark. Other cryptocurrencies also felt this impact: Ethereum (ETH) fell 18% to $3,540, XRP lost 32% to $1.87 and Solana (SOL) fell 20% to $174. Particularly affected was the memecoin sector, which fell by 35%, followed by the AI sector with a decline of 30%.
These dramatic losses led to massive liquidations of long positions in the crypto market. Liquidation data platform Coinglass experienced a brief outage due to increased activity in the sector. A striking indication of the market development was the opening of significant short positions worth $1.1 billion on BTC and ETH by a large Bitcoin wallet, resulting in unrealized profits of over $27 million.
Insight into the overall market
The decline in the crypto market was not isolated, but also reflected broader trends in other risky assets. The S&P 500 fell 2.7% (182 points), while the Dow Jones fell 1.9% (878 points). Experts are concerned and predict that the new tariffs on China could significantly impact the positive development of crypto assets since the beginning of October.
Similar declines in the crypto market have been observed in the past, particularly following tariff increases by Trump, which puts the current developments in a worrying context. The global financial markets are therefore facing an uncertain future characterized by geopolitical tensions and extreme market movements.