Trade War Shocker: Crypto markets plunged on Oct. 10–11, 2025 after U.S. President Donald Trump unexpectedly announced a 100% tariff on Chinese goods starting Nov. 1, reigniting trade war fears [1][2]. Bitcoin, which had been near an all-time high around $122K that morning, plunged under $119K within minutes of Trump’s post as panic selling set in [3][4].
Ethereum Leads Losses: Ether (ETH) was the hardest-hit major crypto, nosediving ~7% from its daily high to below $4,100 – its weakest price since late September – far outpacing Bitcoin’s ~3.5% intraday drop [5]. This breakdown in ETH triggered a cascade of liquidations: Over $600 million in leveraged crypto positions were wiped out, including $235 million in ETH long…
