Crypto Carnage: Tariff Bombshell Triggers $200B Crash as Ethereum Leads Liquidation Bloodbath
Trade War Bombshell Sinks Crypto Markets The crypto market’s abrupt downturn in mid-October was triggered by a major geopolitical surprise. On October 10, President Trump revealed via social media that China had taken an “extremely hostile” stance on trade (limiting exports of critical rare-earth minerals) – and in response, he was preparing a “massive increase” in tariffs, including a 100% tariff on all Chinese imports effective Nov. 1 ts2.tech ts2.tech. This unexpected escalation of U.S.–China trade tensions hit markets like a shockwave. Almost immediately after Trump’s post, risk assets went into freefall. Bitcoin (which earlier that day hovered around $122K)