The crypto market saw a massive selloff this morning after Donald Trump announced a 100% tariff on Chinese imports, effective November 1, 2025. The move rattled global markets, sending Bitcoin, Ethereum, Solana, and other major cryptocurrencies tumbling.
Trump described China’s recent export policies as “extraordinarily hostile,” vowing to respond with heavy trade retaliation. The announcement immediately sparked panic among investors, triggering a wave of selling across the digital asset space.
Within an hour, nearly $7 billion in crypto positions were liquidated, one of the largest hourly wipeouts in market history. Most of the losses came from long positions, showing that traders were caught off guard by the sudden crash.
As trading volumes surged, major exchanges like Binance reported temporary delays and display issues due to overwhelming traffic, but reassured users that
“Funds are SAFU.”
By midday, Bitcoin briefly plunged below $110,000 before rebounding slightly, while Ethereum dropped over 11% to trade under $3,900. Altcoins like Solana, BNB, and XRP followed the same path as traders rushed to exit volatile positions.
The tariff announcement has added fresh uncertainty to an already fragile market, reinforcing how global politics can swiftly impact investor confidence in crypto.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
