Bitcoin News Today: Trump Tariffs Trigger $19B Crypto Liquidations as Markets Reel

Bitcoin (BTC) and the broader cryptocurrency market faced a sharp correction on October 10, 2025, following U.S. President Donald Trump's announcement of a 100% tariff on Chinese tech imports. The move triggered a record $19 billion in liquidations, with Bitcoin plunging to $102,000 from $122,000 before recovering to $112,394 . Ethereum (ETH) and Solana (SOL) also saw steep declines, with ETH dropping 14.2% and SOL falling nearly 20% . The S&P 500 (SPX) and U.S. Dollar Index (DXY) were similarly impacted, with SPX breaching its 30-day moving average and DXY testing critical resistance at 98.26 Pullback Risks Increase as S&P 500 Approaches Key Trendline^[5].

Technical analysis for Bitcoin highlights a bullish structure above $119,345, with key resistance at $126,293 and support zones between $108,150 and $105,000 Bitcoin: New All-Time High, but Caution Required^[1]. Derivatives data shows rising open interest and positive funding rates, but liquidation heatmaps indicate vulnerability between $126,350 and $127,600 Bitcoin: New All-Time High, but Caution Required^[1]. Barchart's October 13 projection for BTC/USD identifies standard deviation levels at $124,255 and $126,300 as critical resistance BTCUSD Trader's Cheat Sheet for Bitcoin - Barchart.com^[3].

Ethereum's price action suggests a potential breakout from a descending channel, with all-time high resistance at $4,837 and short-term targets between $5,400 and $7,000 ETH and BTC Resistance Levels: Key Insights and What to Watch^[4]. BNB (BNB) is trading near a 20-day EMA ($1,145) after a rebound from $1,145, with a potential rally to $1,609 if buyers reclaim $1,350 Pullback Risks Increase as S&P 500 Approaches Key Trendline^[5]. XRP faces a bearish descending triangle, with a 20-day EMA target at $2.77 Pullback Risks Increase as S&P 500 Approaches Key Trendline^[5].

Altcoins show mixed signals. Solana (SOL) is testing an ascending channel at $168, with a potential rebound toward $260 if bulls reclaim the 20-day EMA Pullback Risks Increase as S&P 500 Approaches Key Trendline^[5]. Dogecoin (DOGE) is oscillating within a $0.14–$0.29 range, with a 20-day EMA target at $0.23 Pullback Risks Increase as S&P 500 Approaches Key Trendline^[5]. Cardano (ADA) broke below a descending channel to $0.27, facing resistance at $0.78 Pullback Risks Increase as S&P 500 Approaches Key Trendline^[5]. Hyperliquid (HYPE) completed a head-and-shoulders pattern, with a neckline at $35.50 and potential support at $30.50 Pullback Risks Increase as S&P 500 Approaches Key Trendline^[5].

The U.S. Dollar Index (DXY) is consolidating above its 20-day EMA (98.26), with a potential break above 100.50 or a decline to 97.00 Pullback Risks Increase as S&P 500 Approaches Key Trendline^[5]. The S&P 500 (SPX) is at a critical inflection point near 6,760, with a 30-day moving average acting as a key momentum indicator . Analysts warn that a sustained close below the 50-day SMA (6,470) could deepen the correction .

Market sentiment remains volatile, with institutional flows slowing and leverage-driven liquidations exposing systemic risk. While long-term holders are accumulating at lower levels, short-term traders face heightened caution as on-chain data shows increased stablecoin dominance ETH and BTC Resistance Levels: Key Insights and What to Watch^[4]. The interplay between macroeconomic factors-such as U.S.-China trade tensions and potential interest rate cuts-will likely dictate the next phase of market dynamics ETH and BTC Resistance Levels: Key Insights and What to Watch^[4].