Crypto Market Carnage: Bitcoin Crashes from Record Highs as Tariff Bombshell Wipes Out $20B
Bitcoin hit a record above $125,000 and gold topped $4,000/oz in early October before both retreated slightly. On Oct. 10, President Trump’s surprise 100% tariff announcement on Chinese imports triggered a sharp sell-off, sending Bitcoin down to $104,000 and wiping out $20 billion in crypto liquidations. Stocks and altcoins plunged, while gold rebounded as investors sought safer assets.