Bitcoin Crashes from Record Highs as Tariff Bombshell Wipes Out $20B

  • Bitcoin & Gold hit record highs in early October – Bitcoin blasted past $125,000 per coin in an “Uptober” surge (a new all-time high) while gold broke above $4,000/oz for the first time [1]. Both pulled back slightly after these peaks, hovering near $123K for BTC and $4,030 for gold as of Oct. 6 [2]. Investors flocked to these “safe havens” amid high inflation, U.S. government shutdown fears, geopolitical conflicts, and a weaker dollar (down ~12% YTD) [3].
  • Trump’s tariff bombshell triggers crypto plunge – On Oct. 10, President Donald Trump threatened a “massive increase” in tariffs on Chinese imports, then announced a 100% tariff on all goods from China starting Nov. 1 [4]. The surprise reignition of U.S.-China trade…

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