Comprehensive Analysis of the Recent Crypto Market Crash
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2025: A Year Marked by Unprecedented Crypto Market Turmoil
In 2025, the cryptocurrency market faced one of its most significant downturns in history, with Bitcoin leading the fall. On Friday, October 10, Bitcoin struggled to maintain its value and ultimately yielded to the bearish trends. This decline was triggered by an announcement from United States President Donald Trump, who declared a 100% tariff on Chinese imports.
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The ripple effect of this announcement was felt across the entire cryptocurrency landscape, with major digital assets experiencing notable price drops. CoinGlass data reveals that this event resulted in the largest single-day liquidation in history, wiping out nearly $10 billion in open interest from the market.
Trump’s Tariff Decision: A Catalyst for Market Volatility
On October 10, through the Truth Social platform, President Trump declared the imposition of a 100% trade tariff on goods imported from China. This move was a response to China’s plans to enforce export restrictions on rare earth minerals, vital components in the production of computer chips.
President Trump stated that China had adopted an aggressive trade stance, notifying the world of its intention to implement extensive export controls on nearly all their products, effective November 1, 2025.
According to President Trump, these export restrictions were part of a long-term strategy by China, impacting all nations. In retaliation, the U.S. plans to impose export controls on critical software by November 1, unless China alters its course of action.
Despite these tensions, recent reports suggest President Trump remains open to discussions with Xi Jinping, President of China. He expressed willingness to reconsider the tariffs if China retracts its decision before the set deadline.
This announcement isn’t the first of its kind. Earlier in April 2025, Trump’s initial tariff declaration sent shockwaves through both cryptocurrency and stock markets, causing Bitcoin’s value to plummet to around $77,000.
Current Status of Bitcoin: A Brief Overview
At present, Bitcoin is valued at approximately $112,581, reflecting a 7.6% decrease over the past 24 hours. Data from CoinGecko indicates that Bitcoin has seen a decline of over 8% in the last week alone.
The daily price trajectory of Bitcoin can be analyzed through the BTCUSDT chart available on TradingView.
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