Trump’s 100% Tariff on China Sends Bitcoin Crashing

[kevin1]

U.S. President Donald Trump announced a 100% tariff on Chinese products starting Nov. 1, sparking chaos in global markets. The move, aimed at countering China’s planned export restrictions on rare earth minerals, sent Bitcoin tumbling below $110,000, with futures on Binance hitting $102,000 — a 3-month low.

Crypto markets reacted violently: $9.4 billion in positions were liquidated, including over $7 billion in leveraged longs, according to CoinGlass.

[Abdul Khan]

This move rattled global risk assets, and Bitcoin’s correlation to traditional markets is showing once again.

[Nahid Hossen]

Traders weren’t expecting such an aggressive policy swing — panic selling hit BTC harder than expected.