Did Trump’s Tariff Trigger A Crypto Purge Or Just A Panic?
Did Trump’s Tariff’s cause the crypto purge? (Photo by Chip Somodevilla/Getty Images)
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On October 10, 2025, the crypto markets were jolted by a shock from Trump’s tariffs on China.
Per Reuters, President Donald Trump announced the imposition of 100 percent tariffs on critical software imports from China, effective November 1, along with export restrictions. The move came amid rising trade tensions over Chinese rare-earth and technology export controls.
In the hours that followed, global financial markets reeled.
The S&P 500 fell more than 2 percent, marking its worst single-day drop since April. Bitcoin dropped to around 104,782 dollars, an 8.4 percent slide, while Ethereum and other major Altcoins also declined sharply.
The…
