Crypto crash: Bitcoin and Ethereum plummet after Trump imposes 100 per cent tariffs on China

[BumRushDaShow]

Source: The Independent

Saturday 11 October 2025 10:48 BST


Two major cryptocurrencies have crashed after Donald Trump imposed 100 per cent tariffs on “any and all critical software” from China, as trade tensions continue escalate between the two countries.

Bitcoin and Ethereum both saw record liquidations as investors reacted to fears over a trade war, which saw many crypto investors move their money to stablecoins or safer assets.

In the last 24 hours, Bloomberg reports that bets worth more than $19bn have been wiped out, with Trump’s announcement on X sparking a decline of more than 12 per cent in Bitcoin.

In a post to his Truth Social platform on Friday, the US president said Beijing had sent an "extremely hostile letter to the world" and imposed "large-scale export controls on virtually every product they make".

Read more: https://www.independent.co.uk/news/business/crypto-bitcoin-crash-trump-china-tariff-b2843621.html

[FredGarvin]

1. Crash?

Bitcoin is up 100% Y-O-Y.

It fell to last months high.

[BumRushDaShow]

3. "t fell to last months high."

Bitcoin and Ethereum both saw record liquidations as investors reacted to fears over a trade war, which saw many crypto investors move their money to stablecoins or safer assets.

In the last 24 hours, Bloomberg reports that bets worth more than $19bn have been wiped out, with Trump’s announcement on X sparking a decline of more than 12 per cent in Bitcoin.

Remember this? - https://www.democraticunderground.com/10142915703

It's too volatile and apparently (despite it's asserted function) easy to be manipulated by the criminal community.

[FredGarvin]

4. My SNP based IRA took a similar hit

No one really tracks Bitcoin transactions.

Bitcoin is down 12% during the week not in the last 24 hours dudebot

[BumRushDaShow]

8. You have a President

who is attempting to incorporate it into the regular banking system via 401(K)s -

Trump wants your 401(k) to access crypto and private equity. Here's what to know.

By Aimee Pichee
Updated on: August 12, 2025 / 2:17 PM EDT / CBS News



President Trump says he wants to democratize retirement by allowing 401(k)s to invest in so-called alternative investments, or strategies outside stocks and other traditional investments, such as private equity and cryptocurrencies. The executive order signed by Mr. Trump on Thursday would open the door to higher-risk investments landing in your 401(k). It could also potentially serve as a game changer for the $5 trillion private equity industry, which for years has wanted to gain access to America's retirement plans.

The move has the potential to shake up the typically staid menu of investment choices provided to workers through their employer-sponsored defined-contribution plans, which include 401(k)s and 403(b)s, with the latter aimed at teachers. The change might appeal to some savers, given that alternative investments can provide protection from market swings while also providing the potential for outsized returns. But there are several catches to be aware of, experts say.

Private equity investments "have matured into a strong-performing asset class delivering excellent long-term returns, so this is good news for Americans," Simon Tang, head of U.S. at Accelex, a private markets specialist, said in an email.

But there are caveats, experts say. For one, some alternative investments carry higher risk profiles than traditional asset classes, and offer less transparency about their performance on a day-to-day basis. It's also unclear whether or not employers will want to offer such investments given the risks.

(snip)

You may have investment managers who know that the average worker is not obsessively monitoring their 401(K)s and could thus be sold a "bill of goods" with shady consents.

Right now, that stuff is too volatile for even be considered for someone's retirement account.

[Cheezoholic]

9. Yep, when it hits 20k, which is VERY possible, that'll be a crash lol n/t

[Cheezoholic]

2. When they start pumping and dumping toothpicks we know their close to running out of stuff to rip people off n/t

[FredGarvin]

5. Bitcoin is tariff resistant

A money laundering scheme

Hats off to those that bought it sub $10K.

Same with those who bought gold sub $2k

[FakeNoose]

6. It's all gambling, one way or another

If my dad were still alive, he would have been all over bitcoin investments.
Even if he didn't understand what it was. "It's gonna make a killing!"

[FredGarvin]

7. I wish I bought it early too

No intrinsic value = no buy.

In retrospect what really has intrinsic value today?

[Cheezoholic]

14. I have a wallet on a USB stick with 3 in it. Bought them for I think 125 each. Spent some of it, 25% on video games

and PC stuff online (hey it was new and fun!) Had to go meet the guy I bought them from and get them, you couldn't get them over the net unless you were mining back then. It was like buying drugs lol. I was able, via internet archive, to even go back and find the thread in the original Bitcoin forum where I set up the buy locally. That was nuts. The old rule when I bought them was to keep all your passphrases and keys separate preferably in non digital form, like write them down which I did. Those post it notes (I mean back then who gave a shit, its game money) are long gone. I've been running several brute force crackers like EnigmaCracker on it in an old linux laptop for 6 years hoping to get lucky but you gotta get lucky twice lol. Lottery has better chances.

Sure would help out a lot of Democratic candidates and other good causes with that cash. Live and learn

[flashman13]

10. This is what happens when you invest in canned hot air.

[FredGarvin]

11. Bitcoin is up 100% Y-O-Y.

Weird

[flashman13]

13. Oh! Give Trump a little more time to drive the American and world economy into the toilet.

Then get back to me in a year.

[FredGarvin]

15. Trump is making cake with Bitcoin

Its a scam yo

[flashman13]

16. I'm a little slow so I'm not sure of your meaning.

You might find J.K. Galbraith's The Great Crash of interest. Canned hot is is nothing new. Only the packaging changes.

[progree]

12. Bitcoin links

https://finance.yahoo.com/quote/BTC-USD/
Historical data (daily numbers, not a graph): https://finance.yahoo.com/quote/BTC-USD/history/
Chart: https://finance.yahoo.com/quote/BTC-USD/chart/

[mdbl]

17. How does bitcoin crash?

It isn't based on anything.

[IbogaProject]

18. It is priced against the dollar and other currencies

That is its "value". And over time the floor will be around the energy value to "mine" a new coin.

[mdbl]

20. Sounds like a big con to me

[GenThePerservering]

19. Last I read, China only exports about 15% of its production to the US

Somehow I suspect that we'll hurt more than they will, given that then can always export more elsewhere.

[LudwigPastorius]

21. The total crypto market value is $3.75 trillion.

When you consider that, today's "crash" is only 3.3% of the total money invested.

Crypto assets are notoriously volatile. If losses on this scale keep up for a week, then we are talking a "crash".

https://www.coingecko.com/en/charts