Crypto CARNAGE: $20B Vanishes as Bitcoin Plummets – Will It Rebound?
Crash Overview The crypto meltdown unfolded late on Oct. 10, 2025. In a posting on Truth Social, President Trump threatened a “massive increase” in tariffs on Chinese goods and new controls on technology exports ts2.tech ts2.tech. The announcement reignited trade-war fears, spooking all risk assets. U.S. stock markets fell (Nasdaq -3.6%, S&P 500 -2.7% on Oct. 10) ts2.tech, but crypto was hit even worse. Traders exploiting high leverage were caught off guard: Bitcoin collapsed from ~$122K to below $119K within minutes, as panic-selling cascaded through auto-liquidations ts2.tech ts2.tech. Joshua Duckett of crypto forensics firm CryptoForensic told Fox Business that a