Crypto Crash: Bitcoin (BTC) Down 10%, ETH, XRP, SOL in Freefall on Trump Tariff on China

Bitcoin fell dramatically by 10%, dropping below $110,000, following U.S. President Trump's announcement of a 100% additional tariff on goods from China. This move caused significant panic in the cryptocurrency market, leading to a sharp decline in other major cryptocurrencies like Ethereum (ETH), XRP, and Solana (SOL), which fell by 15%-30%. The declines were exacerbated by existing trade tensions and the potential impact of these tariffs on the crypto market. As a result, over $7 billion was liquidated from traders who had bet on rising prices. Bitcoin had previously shown weakness, trading around $117,000, but the announcement sent prices cascading even lower. Ethereum saw a plunge below $3,700, while significant altcoins faced declines ranging from 20%-30%. These developments highlight the sensitivity of cryptocurrencies to geopolitical events and trade policies, prompting traders to reassess their positions amid growing volatility.

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