Bitcoin crashes to $102,000 after Trump's new 100% tariffs on China

Crypto markets turned red on Friday after U.S. President Donald Trump announced new 100% tariffs on Chinese exports, triggering a wave of uncertainty and massive liquidations.

Geopolitics vs. Markets

According to Trump, the decision was a response to China’s attempt to impose restrictions on the export of rare earth metals, which are vital for the production of chips, artificial intelligence, and high-performance computers.

This marks the second major blow to global markets after his initial comments on tariffs back in April already sparked fears of a potential recession.

Bitcoin falls to a three-month low

Minutes after the announcement, panic swept across the crypto markets.
Bitcoin plunged to $102,000 – its lowest level since late June.

According to CoinGlass, over the last 24 hours more than $9.4 billion worth of positions were liquidated, including over $7 billion in long positions.

The crash also hit other leading cryptocurrencies.
Ethereum (ETH) dropped to $3,500, while Solana (SOL) fell below $140.

Pressure on the tech and crypto sectors

The new Chinese export restrictions threaten the global chip supply chain, which affects not only tech companies but also crypto miners.
On the other hand, U.S. measures against Chinese technology aim to reduce dependency on foreign production but are increasing market tension and volatility.

The entire market in red

The total crypto market capitalization fell by roughly 12% in 24 hours, reaching $3.64 trillion. Analysts note this is one of the sharpest single-day declines in the past quarter.

Despite the panic, some investors see the situation as an accumulation opportunity – especially if Bitcoin manages to hold above the $100,000 zone, which remains a key technical support level.

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