The Bitcoin price and the entire crypto market suffered one of the biggest crashes in history again in 2025. The premier cryptocurrency, which had been struggling all day on Friday, October 10, eventually succumbed to bearish pressure after United States President Donald Trump announced 100% tariffs on Chinese imports.

The rest of the cryptocurrency market also faced significant downward pressure, with the prices of other large-cap assets nosediving following the US tariff news. According to data from CoinGlass, nearly $10 billion worth of open interest was erased from the crypto market in the largest single-day liquidation event in history.

Trump Imposes 100% Tariff On Chinese Goods

In an October 10 post on the Truth Social platform, Trump declared a 100% trade tariff on Chinese good

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