The Bitcoin Prize and the entire crypto market led one of the biggest crashes in history again 2025. Premier Cryptocurrency, who had fought all day on Friday, October 10, eventually underwent to Baiss Press after US President Donald Trump announced 100% customs on Chinese Import.
The rest of the Cryptocurrency market also encountered significant downward pressure, with prices on other large assets that nosed according to US customs news. According to data from Coinglass, almost $ 10 billion open interest was deleted from the crypto market in the largest one-day liquidation event in history.
Trump introducing 100% customs on Chinese goods
In a October 10 post on truth social platform, Trump declared A 100% trade tariff on Chinese goods, in addition to all the tariff they are currently paying. Trump said customs were in response to China’s attempt to place export restrictions on rare earthminerals, which are crucial to creating computer chips.
Trump said:
It has just learned that China has taken an extremely aggressive position when it comes to trading an extremely hostile letter to the world, with the statement that they would, from 1 November 2025, entail large -scale export checks on practically all products they do, and some did not even make them.
Source: @realDonaldTrump on Truth Social
Trump claims that China’s decision to introduce these export controls affects all countries and was a plan drawn up by them years ago. The United States will introduce export checks on all critical software on November 1, or in the past, depending on further measures from China, the president wrote on Truth Social.
According to New reportsTrump later said that he is still open to meeting Xi Jinping, chairman of the People’s Republic of China. The US president said he could lift the trade tariff if China goes back on his decision before November 1.
Trump first announced the introduction of commercial duties on countries, especially China, in April 2025 and sent shock waves through Cryptocurrency and stock markets. This decision was followed by the decline in the price of Bitcoin to approximately $ 77,000.
Bitcoin price
From this writing, the price of bitcoin amounts to about $ 112,581, which reflects a decline of 7.6% over the past 24 hours. According to data from Coytecko, the flagship Cryptocurrency is down by over 8% over the past seven days.
The price of Bitcoin on the daily timeframe | Source: BTCUSDT chart on TradingView
Image from iStock, chart from tradingview
Editorial process For Bitcoinist is centered on delivering thoroughly investigated, correct and impartial content. We maintain strict purchasing standards, and each page undergoes frequent review of our team of top technological experts and experienced editors. This process ensures integrity, relevance and value of our content for our readers.
