At dawn on 11/10/2025 (Vietnam time), global financial markets recorded strong fluctuations after former U.S. President Donald Trump announced a 100% tariff policy on all imports from China, effective from 1/11 onwards.
This move immediately triggered a chain reaction in the financial market, with the cryptocurrency market being the sector most heavily impacted.
The price of Bitcoin (BTC) has dropped more than 20,000 USD in just a few minutes, marking one of the strongest hourly declines since the beginning of 2025. Major altcoins also fell sharply with double-digit losses, pushing the total liquidation value of positions across the market to over 19 billion USD.
The Fear of the āBlack Swanā Returns
Many market experts believe that this event bears many similarities to past āshocks,ā including the sharp decline due to COVID-19 in March 2020 and the collapse of the LUNA ecosystem in May 2022.
Some analysts warn that this could be the new āblack swan,ā reflecting the fragility of the cryptocurrency market when facing global macroeconomic fluctuations.
