President Donald Trump’s announcement of 100% tariffs on Chinese imports on October 10 triggered the largest single-day cryptocurrency liquidation in history, wiping out $19 billion in leveraged positions and causing Bitcoin to fall from over $126,000 to below $110,000.
Blockchain data revealed suspicious short positions placed just minutes before the tweet, profiting $192 million, amid escalating U.S.-China trade tensions that erased $800 billion from the total crypto market cap.
Exchanges like Binance faced disruptions, prompting apologies from CEO Richard Teng, while analysts warn of ongoing volatility as talks between Trump and President Xi Jinping loom.
