Crypto Carnage: Tariff Bombshell Triggers $200B Crash as Ethereum Leads Liquidation Bloodbath
Crypto markets plunged Oct. 10–11 after U.S. President Donald Trump announced a 100% tariff on Chinese goods starting Nov. 1. Bitcoin tumbled below $119,000, while Ether dropped over 7%, triggering more than $600 million in liquidations. An estimated $200 billion in crypto market value was erased overnight. A major hack on Hyperliquid added to the turmoil, with $21 million stolen from a single wallet.