Bitcoin crashes to lowest level since April as Trump tariffs
Crypto just took a major hit—Bitcoin fell as much as 12% to below $110,000, before recovering to around $113,000, and Ethereum fell 16%, XRP 19%, and Solana up to 30%.
The crash came right after President Trump announced a steep 100% tariff on Chinese goods plus new export controls.
These changes kick in November 1, sending shockwaves through the market.
It's a bloodbath out there
If you're into crypto or even just watching from the sidelines, this is one of the biggest shakeups since April.
Over $7 billion in leveraged bets got wiped out in hours—think of it as a massive "liquidation event"—and smaller tokens like DOGE and ADA sank nearly 20-27%.
Even crypto stocks like Coinbase and Robinhood weren't spared.
The reason behind the crash
It all comes down to rising US-China trade tensions. With tariffs ramping up and economic uncertainty growing, investors rushed out of risky assets.
Crypto's high volatility made it especially vulnerable this time around, showing how global politics can quickly spill into digital markets.