Why Did The Crypto Market Crash Today?
TLDR
- President Trump announced a 100% tariff on Chinese imports starting November 1, triggering a global market sell-off
- Over $16 billion in leveraged crypto long positions were liquidated, marking one of the largest liquidation events in crypto history
- Bitcoin dropped below $110,000 and Ethereum fell over 16% before partially recovering
- Ethena’s USDe stablecoin briefly lost its dollar peg, trading at $0.9996 during the chaos
- More than 1.6 million traders were liquidated across exchanges in the 24-hour period
The crypto market experienced one of its worst days of 2025 on Friday after President Donald Trump announced a 100% tariff on all Chinese imports. The announcement came via Truth Social and immediately triggered a…
