Crypto Markets Crash As US-China Trade War Officially Begins With Trump’s 100% Tariff
The world crypto market plunged once more late Friday after US President Donald Trump introduced sweeping new tariffs and export controls on China, escalating tensions to their highest level since 2019.
In a press release posted on-line, Trump mentioned the US would impose a 100% tariff on all Chinese imports beginning November 1, citing what he referred to as Beijing’s “terribly aggressive” transfer to impose broad export controls on “nearly each product they make.”
US and China Enter Their Biggest Trade War Since 2019
The announcement triggered fast market turmoil. Within hours, the entire cryptocurrency market capitalization fell from round $4.25 trillion to $4.05 trillion, wiping out almost $200 billion in worth, based on CoinGecko.
Bitcoin crashed 10% to $107,000 from $122,000. Ethereum, XRP, and BNB dipped greater than 15%.
This second wave of losses comes simply hours after Trump’s earlier put up canceled a deliberate assembly with Chinese President Xi Jinping and threatened a “large” tariff improve.
That preliminary assertion precipitated the primary main sell-off, erasing about $125 billion in crypto worth and over $800 million in leveraged positions.
The newest declaration, nevertheless, indicators a shift from rhetoric to coverage, doubling tariffs to unprecedented ranges and increasing the dispute to incorporate software program and expertise controls.
This transfer successfully confirms a full-scale commerce confrontation, sparking a broad “risk-off” retreat throughout equities, commodities, and digital belongings.
Market watchers warn that the mixed influence of tariffs and export restrictions might pressure the worldwide expertise provide chain — significantly in semiconductors, AI, and blockchain infrastructure — deepening uncertainty in sectors that underpin digital belongings.
The timing of the escalation caught markets off-guard, intensifying liquidation stress on leveraged positions.
Bitcoin’s decline is now testing key psychological levels, whereas altcoins continue to underperform amid heavy promoting.
For now, merchants are bracing for a unstable weekend. The market’s subsequent route will hinge on whether or not Beijing responds in type or indicators willingness to reopen negotiations earlier than November 1.
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