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Bitcoin plunged to $102,000 successful the Binance perpetual futures brace aft Trump announced sweeping tariffs connected China connected Friday, reigniting fears of a broader commercialized and marketplace sell-off.
US President Donald Trump announced a 100% tariff connected China connected Friday, sending the terms of Bitcoin (BTC) reeling beneath $110,000 astatine the clip of writing.
Trump said the tariffs were successful effect to China attempting to spot export restrictions connected uncommon world minerals, which are important for creating machine chips. Trump wrote connected Truth Social:
“It has conscionable been learned that China has taken an extraordinarily assertive presumption connected Trade successful sending an highly hostile missive to the World, stating that they were going to, effectual November 1, 2025, enforce large-scale Export Controls connected virtually each merchandise they make.”
Source: Donald TrumpTrump’s first tariff announcements successful April sent shockwaves done crypto markets and sparked fears of a recession.
Bitcoin falls to $102,000, a 3-month low
Shortly aft President Trump’s announcement, Bitcoin’s BTC/USDT futures brace astatine Binance exhcange fell arsenic debased arsenic $102,000, which is simply a debased not seen since precocious June erstwhile BTC dropped nether $100,000.
Bitcoin spot prices astatine Coinbase deed an intraday debased of $107,000 portion information from CoinGlass shows $9.40 cardinal full crypto marketplace positions liquidated successful the past 24-hours, with $7.15 cardinal being leveraged longs.
Total crypto marketplace liquidations. Source: CoinGlassTariff unit and spot access
Rare world elements are indispensable for semiconductor production. By threatening to tighten entree to captious materials, China strains the planetary hardware pipeline, including for AI, high-performance computing and crypto mining infrastructure.
Meanwhile, US measures targeting Chinese tech exports and concern are portion of a broader push to curb dependency connected overseas manufacturing.
Broader crypto markets turned reddish pursuing the tariff announcement, with Ether (ETH) and Solana (SOL) extending losses alongside Bitcoin, down 12% and 14%, respectively, astatine the clip of writing.
The planetary crypto marketplace capitalization is astatine $3.64 trillion astatine this writing, with an 11.80% alteration implicit the past 24 hours.
Related: The 2025 US-China commercialized war
Additional reporting by Ana Paula Pereira. This is simply a processing story, and further accusation volition beryllium added arsenic it becomes available.
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