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Saturday has gone from dangerous 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 under $112,000, and was not too long ago buying and selling for $111,599 — down 6.1% on the day, in line 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 tougher, 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 battle 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 an extra 100% tariff ranging from November 1.
“Additionally on November 1, we are going to impose export controls on any and all essential software program,” he postulated.
 
The worldwide crypto market capitalization at present stands at $3.84 trillion as of publication time, representing a 6.7% lower during the last 24 hours.
$19B Liquidation Shock
Amid the massacre, a report tally of crypto positions have been worn out throughout the market, triggering a large liquidation cascade during the last 24 hours — an extent by no means seen in crypto market historical past. Information from Coinglass signifies that 24-hour liquidations reached practically $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 the moment: $19.16 Billion in liquidations
That is Largest liquidation occasion in historical past of crypto and nearly 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 whole is probably going a lot increased,” explaining that Binance — the world’s largest crypto alternate by buying and selling quantity — doesn't report as rapidly as different platforms.
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