Bitcoin News Today: Trump's Tariff Shockwave Triggers $9B Crypto Liquidation as Trade Tensions Boil Over
The cryptocurrency market experienced its most significant liquidation event on October 10, 2025, as U.S.-China trade tensions escalated following President Donald Trump's announcement of a 100% tariff on Chinese imports effective November 1. The move triggered a cascading sell-off, with over $9 billion in leveraged positions liquidated across major exchanges, according to data from CoinGlass. BitcoinBTC-- (BTC) plummeted from above $122,000 to $107,000, while EthereumETH-- (ETH) dropped to $3,975, erasing approximately 8% of its value. The total crypto market capitalization fell from $4.25 trillion to $4.05 trillion within hours, marking a $200 billion loss [6].
The liquidation surge was concentrated in highly leveraged long positions, with Ether accounting for $235 million in wiped-out bets, as reported by CoinGlass [1]. The crash was exacerbated by the breakdown of critical technical support levels for ETHETH--, including a key resistance at $4,287 and failed recovery attempts at $4,141 [1]. Meanwhile, Bitcoin's price action mirrored broader market panic, breaching the 50-day simple moving average at $114,500 and testing support near $110,000 [9].
The U.S. stock market also suffered, with the S&P 500 and Nasdaq indices falling by 2.3% and 3%, respectively, as investors shifted to cash and stablecoins [7]. Binance and CoinbaseCOIN-- reported system strain and latency during the turmoil, though both exchanges assured users of fund safety [8]. Analysts attributed the crash to a combination of overleveraged positions and macroeconomic fears, with some comparing the event to the March 2020 crypto market collapse [5].
Despite the immediate pain, some market participants view the crash as a catalyst for long-term bullish trends. Doctor Profit, a prominent crypto analyst, noted that the liquidation event could signal a "mother of shakeouts," potentially paving the way for a new bull run. He highlighted Bitcoin's technical indicators, including a Golden Cross and higher highs/lows since its $74,000 low, as signs of sustained momentum . Similarly, BlackRock's IBIT spot Bitcoin ETF recorded $2.3 billion in inflows over a week, suggesting institutional confidence .
The path forward, however, remains uncertain. Trump's trade policies and potential Chinese retaliatory measures could prolong volatility. Analysts caution that further liquidations may occur if Bitcoin retests the $100,000 psychological level, while a successful rebound above $115,000 could reignite bullish sentiment [9].
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