Trump's New Duties Caused The Crypto Market To Collapse To Historic Lows

• 12.10.2025, 8:10

Bitcoin, ether and solanium have been hit the hardest.

Donald Trump's threat to impose new 100% tariffs on China caused a record crypto market collapse with more than $18 billion in liquidations.

It was reported by CNN.

Bitcoin, ether and solanium were the hardest hit, being the center of a wave of forced liquidations of investors' large credit and margin positions.

Bitcoin - $5 billion worth of positions liquidated, with the price falling to $103,000 followed by a rebound to $111,600.

Ethereum (ether) - minus $4 billion, slipping from $4,365 to $3,742.

Solana - loss of more than $2 billion, falling nearly 20%, to $178.

CoinGlass said it was "the largest liquidation event in the history of cryptocurrencies."

The panic in the crypto market coincided with a sharp decline in traditional financial indices, with the Nasdaq and S&P 500 recording their worst day in six months, adding to the effect of the massive asset sell-off.

How Trump is affecting the crypto market

It's worth noting that it was Trump's policies that previously gave cryptocurrencies a boost - President:

began openly reaching out to the crypto community,

launched his own meme coin, which sparked a surge in retail attention,

announced the creation of a U.S. strategic reserve in bitcoin,

allowed the cryptocurrency to be included in 401(k) retirement plans via executive order - after which bitcoin hit an all-time high of $124,000.

The escalating trade war with China, however, has dramatically changed investor sentiment. Friday, October 10, brought a powerful collapse of the crypto market - the price of bitcoin fell to $105,801, one of the sharpest daily declines in recent months.