Trump's tariff threat sparks over $7 billion in crypto liquidations

11 Mwezi wa kumi, 2025 Imeripotiwa na AI Picha iliyoundwa na AI

Cryptocurrency prices plunged on October 10, 2025, after US President Donald Trump announced plans for an additional 100% tariff on Chinese goods and export controls on critical software. Bitcoin fell more than 10% to below $110,000, while other major tokens like Ethereum and Solana dropped 15-30%. The sell-off led to over $7 billion in leveraged position liquidations within hours, according to Coinglass data.