US stocks fell, Bitcoin dropped 9%, altcoins fell over 50%, while ETFs remained largely unaffected.
President Donald Trump posted a statement on Sunday suggesting a potential easing of trade tensions between the US and China, while issuing a veiled warning to Chinese President Xi Jinping.
US stocks fell on Friday following the tariff threat. The announcement also triggered extreme volatility in crypto markets. The proposed tariffs on Chinese imports led to the largest single-day liquidation in crypto history, with over $19 billion in perpetual futures positions liquidated across exchanges.
The escalating trade tensions also affected global markets, including cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term. Bitcoin fell more than 9% from $120,000 to $110,000, while some altcoins dropped over 50%.
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Institutional investors appeared largely unaffected. Spot Bitcoin ETFs recorded minor net outflows of $4.5 million, while BlackRock’s IBIT ETF saw inflows of $74.2 million and recently surpassed 800,000 BTC in assets under management.
Markets began recovering after Trump’s Sunday post on Truth Social. Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term rose to $113,000, reflecting renewed market optimism.
“Friday’s reaction shows the crypto market is extremely sensitive to geopolitical developments, but the resilience of institutional investors highlights growing maturity in the market,” Simon Peters, Crypto Analyst, eToro, said.
“While retail traders were heavily impacted, ETFs like IBIT show that professional money is holding steady, which bodes well for recovery.”
“Don’t worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn’t want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!!” he wrote on Truth Social.
The statements came after Trump increased tariff and trade pressure on Beijing on Friday, announcing on Truth Social that the US would impose an additional 100% tariff on Chinese goods starting November 1, 2025.
The announcement followed China’s move to implement new export controls next month, which Trump described as “extraordinarily aggressive” and a “moral disgrace in dealing with other nations.” He added that the timeline of the 100% tariff could be accelerated depending on China’s response. Export controls targeting China’s access to “critical software” were also scheduled to take effect the same day.
Earlier Friday, Trump had threatened a “massive increase” in duties on Chinese goods and suggested he might cancel a planned meeting with Xi Jinping. He cited recent Chinese curbs on rare earth mineral exports, new port fees on US ships, and an antitrust investigation into Qualcomm as evidence of a “very hostile” stance. Beijing also halted purchases of US soybeans, affecting US farmers.
Current US tariffs on China, which in some cases approach 145%, are on hold until November 10 as negotiations on a larger trade deal continue. Chinese tariffs on US goods had risen to 125% before the pause.
