On the night of October 10-11, the cryptocurrency market experienced its largest decline in recent months. The prices of leading coins fell by 30-60%, and Bitcoin’s price fell by almost $10,000 overnight, according to CoinDesk, News.Az reports.
The collapse was triggered by Donald Trump’s threats to impose new tariffs on Chinese goods.
Over the past 24 hours, Bitcoin fell from $123,500 on the morning of October 10 to $112,200 by the morning of October 11. Meanwhile, on the night of October 11, the price of the leading cryptocurrency fell to $104,900, according to Binance data.
Due to the market crash, traders betting on the crypto market’s bullishness lost over $7 billion, CoinGlass reports . However, the total losses could be much higher.
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