Cryptocurrency market experiences a $19.3 billion liquidation in a single day! Trump’s 18 trillion yuan tariffs over 10 months become the biggest “black swan” in the crypto market

Experts fall silent! Who would have thought that Trump’s tariff stick would become the “trader” behind the market’s rise and fall?

Over 10 months, Trump collected a shocking $18 trillion in tariffs—compared to less than $1 trillion in four years under the Biden administration, an 18-fold difference that directly rewrote the global trade landscape and caused chaos in the crypto world.

Since the implementation of “reciprocal tariffs” in April 2025, U.S. tariffs on China soared to a maximum of 145%, causing a collective震动 in global risk assets. The crypto market was hit hardest: on October 10, a single-day liquidation of $19.3 billion occurred, forcing 1.67 million traders to close positions. Bitcoin plummeted 15%, falling below $104,000, while Ethereum, Dogecoin, and others dropped over 20%. The stablecoin USDe temporarily de-pegged to $0.65, creating a historic disaster in the crypto world.

Why can the tariff storm precisely impact the crypto market? The core lies in Trump’s trade policy completely rewriting liquidity logic: tariffs triggered global risk aversion, causing funds to疯狂撤离 high-risk assets. The high leverage characteristic of the crypto market amplified this volatility instantly, forming a transmission chain of “tariff escalation → US stocks震荡 → crypto chain爆仓.”

But the reversal came even faster! When China-U.S. trade negotiations signaled easing and tariff conflicts cooled down, the crypto market launched a strong counterattack: Bitcoin surged 4% in a single day, returning to $115,000; Ethereum, SOL, and other tokens rose over 10%. Funds flowed back from safe-haven assets into the crypto market, staging an extreme “roller coaster”行情.

From sharp decline to rapid rise, the crypto world proved in the most brutal way: Trump’s tariff policy has long become a core variable affecting the crypto market. Without the November 2024 election, there would be no president willing to use tariffs as a weapon, and no current “tariffs determine rise and fall” extreme pattern in the crypto world.

Moving forward, as long as Trump’s tariff policy continues, high volatility in the crypto market will not stop. The most important thing to watch now is not expert predictions of涨跌, but every detail of China-U.S. tariff negotiations—after all, the next liquidation or surge of #FHE代币剧烈波动 #加密市场反弹 #美联储降息预测 could be hidden in new tariff policies.