In over a decade of market cycles, there have only been two shocks of this scale: - the Mt.Gox collapse (2014), when Bitcoin was still in its infancy; - the COVID-19 crash (2020), when global markets fell in unison.
Now comes the third.
🔻 What happened: • Bitcoin plunged to $102,000, down nearly 15% in 24 hours. • Ethereum dropped below $3,400. • Over $9 billion in leveraged positions were liquidated in a single day. • The total crypto market cap fell by more than $250 billion.
Why: Donald Trump announced 100% tariffs on Chinese imports starting November 1, along with new export restrictions on U.S. technology - a clear escalation of the U.S.–China trade war.
The takeaway: The market’s reaction shows how deeply crypto has become intertwined with global macroeconomics. Every political or trade shock now reverberates through digital assets instantly. Crypto is no longer a separate world - it’s becoming a real part of the global financial system.