#TrumpTariffs

Today’s Crypto Market Crash: How Trump’s Tariffs Shook Digital Assets

The cryptocurrency market witnessed one of its sharpest one-day declines of the year today, with Bitcoin plunging nearly 8% to around $104,000 and Ethereum dropping over 10%. Altcoins followed suit, with Solana, XRP, and Cardano all posting double-digit losses.

According to CoinGlass data, more than $8 billion in crypto long positions were liquidated within 24 hours — the largest single-day washout in months

The Trigger: Trump’s 100% Tariffs on China

The immediate catalyst behind the crash was Donald Trump’s announcement of sweeping 100% tariffs on Chinese imports and new restrictions on high-tech exports.

This aggressive policy move reignited U.S.–China trade tensions, sparking a global risk-off reaction across financial markets. Stocks dropped, the U.S. dollar surged, and investors fled speculative assets — including cryptocurrencies.

Crypto, often viewed as a “risk-on” asset class, tends to suffer when global uncertainty and trade barriers rise. Traders rushed to secure profits from recent rallies, while leveraged long positions were force-sold as volatility spiked.

Broader Market Impact

Bitcoin: Fell from $113K highs to nearly $104K within hours.

Ethereum: Dropped below $2,400 for the first time in weeks.

Altcoins: Solana and Avalanche saw losses above 12%.

Stablecoins: Briefly traded above peg as traders rotated into safety.

Global exchanges reported record volumes as panic selling intensified, while on-chain data showed a spike in exchange inflows — a sign traders were moving coins to sell.