Bitcoin tumbles thousands in minutes after Trump’s surprise tariff move
Bitcoin (Illustrative photo: Getty Images)
After Donald Trump announced new tariffs in November, Bitcoin lost several thousand dollars in value within minutes, triggering panic selling and massive loan liquidations on exchanges.
Friday, October 10, saw a sharp crypto market crash - Bitcoin’s price dropped to $110,623, marking one of the steepest single-day declines in recent months.
According to the Coinglass platform, over $1 billion in crypto positions were liquidated in the past 24 hours alone, and total losses in the derivatives market exceeded $2 billion. The surge in activity even temporarily caused the liquidation analytics service to become unresponsive.
After the sharp drop, Bitcoin briefly stabilized around $111,000, but selling pressure persists. Alongside BTC, Ethereum, and other top altcoins also declined, with some losing over 10–15% of their value within a few hours.
Causes of the decline
Analysts highlight several key factors:
- Geopolitical tension – Donald Trump’s tough statements regarding China triggered a stronger dollar and an outflow of funds from risky assets.
- Pause in institutional inflows – after historical highs above $120,000, major players temporarily refrained from making additional investments.
- Wave of margin calls and liquidations – cascading closures of leveraged positions intensified the drop.
- Psychological effect – investors began taking profits, fearing a deeper market crash.
Market loses over $250 billion in capitalization
The total cryptocurrency market capitalization fell by more than $250 billion within a few hours, marking the largest devaluation since August. Experts warn that volatility may persist in the coming days as the market cleans out overheated positions.
Investors are currently in a state of caution - some see the decline as an opportunity to enter the market, while others fear further drops amid ongoing global market instability.
