Donald Trump’s China Tariff announcement wipes billions from Crypto market, sees biggest-ever single day fall
Bitcoin suffered a steep 8.4% drop to $104,782 on Saturday, leading a $19 billion wipeout across the cryptocurrency market, triggered by US President Donald Trump’s escalation of the US-China trade war. Trump announced 100% tariffs on Chinese tech exports and stringent export controls on critical software, accusing Beijing of aggressive trade tactics through restrictions on rare earth minerals. The news, posted on Truth Social, sent shockwaves through global financial markets, with the S&P 500 Index sliding over 2% on Friday. The crypto market saw unprecedented turmoil, with Coinglass reporting over 1.6 million traders liquidated in 24 hours, including $7 billion in positions sold off in under an hour. Brian Strugats, head trader at…
