Business, Finance & Tech
Crypto Prices Crash After Trump’s Tariff Threats Against China Shake Global Markets
Cryptocurrency investors were hit hard Friday as digital assets tumbled in a brief but dramatic flash crash sparked by renewed trade tensions between the United States and China.
The sell-off came after President Donald Trump threatened new tariffs on Chinese imports, unsettling global markets and prompting investors to move their money into safer assets such as gold and Treasury bonds. The resulting “risk-off” rush sent the Nasdaq down 3.56% and caused bitcoin to plunge 15% to a low near $104,600 before partially recovering. Ethereum fell 21%, while Dogecoin and Trump’s own $TRUMP coin dropped more than 50% and 60%, respectively.
According to data from CoinGlass, the sudden downturn wiped out $19 billion in leveraged crypto positions and forced 1.6 million traders to liquidate their holdings. Analysts said the widespread use of leverage — borrowing funds to amplify trades — magnified the impact of the sell-off.
“Friday’s move was a textbook example of how leverage can amplify short-term volatility in a 24/7 market,” said Samir Kerbage, CIO of crypto investment firm Hashdex.
Adding to the panic, a stablecoin trading on Binance briefly lost its one-to-one peg with the U.S. dollar amid technical glitches and rapid market swings. The incident renewed concerns about stability and potential insider trading in parts of the crypto market, though no wrongdoing has been proven.
By Monday, bitcoin had stabilized around $115,000 but remained well below its October 6 record high of $126,000. Analysts say long-term trends like institutional adoption and regulatory clarity could still support future growth, but for now, volatility and uncertainty remain high.
Credit: CNN Newsource
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By: CNN Newsource
October 13, 2025
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