Ethereum Price Rollercoaster: Tariff Shock Sends ETH Tumbling – Can It Still Rally to $5K?
Ethereum traded near $3,800 on Oct. 12 after a sharp sell-off triggered by new U.S. tariffs on China announced by President Trump. ETH dropped about 16% over the past week, with over $600 million in leveraged crypto positions liquidated on Oct. 10, including $235 million in ETH longs. Earlier in October, ETH had spiked to $4,750 before the decline. Year-over-year, ETH remains up about 54%.