The cryptocurrency market has experienced its biggest drop since April
11 October 10:08
The collapse of the cryptocurrency market, which followed US President Donald Trump’s announcement of tariffs on China, was the largest since early April.
This was reported by Bloomberg, according to "Komersant Ukrainian".
According to the agency, bitcoin, the largest cryptocurrency by capitalization, fell by more than 12% after Trump’s statement was published on the Truth Social platform, after which the fall stopped.
According to Bloomberg, more than $6 billion in cryptocurrency positions were liquidated within an hour of Trump’s statement.
Prior to that, the US president said that Washington would impose a 100% duty on goods from China on or before November 1, exceeding the level that Beijing is currently paying.
Later, the value of bitcoin dropped below $105 thousand for the first time since June 24, 2025.
Bitcoin is a decentralized digital currency based on blockchain technology. Cryptocurrency issuance is limited, and a significant portion of the coins have already been mined. The concept of bitcoin was first published in 2008 by an author (or group of authors) who went by the pseudonym Satoshi Nakamoto.
