 
 
Saturday has gone from unhealthy to worse for crypto as U.S. President Donald Trump introduced sweeping tariffs on China on Friday, sending costs reeling decrease in a brutal flash crash.
Bitcoin tumbled beneath $112,000, and was not too long ago buying and selling for $111,599 — down 6.1% on the day, in accordance with CoinGecko. However different crypto majors witnessed sharper drops, with Ethereum, the trade’s second-largest cryptocurrency by market cap, down 7.1% to $3,821.
Ripple’s XRP and Solana (SOL) dipped 9.4% and 13.6%, respectively. Different main cryptocurrencies have been battered more durable, with Dogecoin dropping by 18.1%. The unique meme coin and tenth-largest crypto asset was buying and selling near $0.1933.
The newest flare-up within the commerce struggle debacle between the U.S. and China transpired as Trump threatened to extend tariffs on Chinese language items in response to China’s export restrictions on uncommon earth metals. After conventional markets closed for the week, he introduced in a Reality Social publish late Friday that he would impose a further 100% tariff ranging from November 1.
“Additionally on November 1, we are going to impose export controls on any and all vital software program,” he postulated.
 
The worldwide crypto market capitalization presently stands at $3.84 trillion as of publication time, representing a 6.7% lower over the past 24 hours.
$19B Liquidation Shock
Amid the massacre, a document tally of crypto positions have been worn out throughout the market, triggering a large liquidation cascade over the past 24 hours — an extent by no means seen in crypto market historical past. Information from Coinglass signifies that 24-hour liquidations reached almost $19 billion, with the overwhelming majority of them being leveraged bullish bets.
Covid crash: $1.2 Billion in liquidations
FTX crash: $1.6 Billion in liquidations
At this time: $19.16 Billion in liquidations
That is Greatest liquidation occasion in historical past of crypto and virtually 20x greater than the Covid crash of March 2020. pic.twitter.com/avCSRK3l53— Ash Crypto (@Ashcryptoreal) October 11, 2025
CoinGlass famous in a publish on X that whereas it reported $19.13 billion in liquidations, “the precise complete is probably going a lot increased,” explaining that Binance — the world’s largest crypto change by buying and selling quantity — doesn't report as rapidly as different platforms.
