Crypto markets experienced significant turbulence today as the price of Ethereum (ETH) dropped sharply following U.S. President Donald Trump’s warning about potential tariffs on Chinese goods. This comes amid reports that China is planning to impose export restrictions on rare earth elements, a move crucial for global technology and semiconductor industries. These developments reignited fears of a renewed U.S.-China trade war, impacting liquidity and risk-off sentiment across global markets. 24-hour data by CoinMarketCap indicates ETH has fallen around 4.5% to $4,120 over the past day. Its market cap now stands at $497 billion, with trading volume down nearly 8% to $40.9 billion, following Bitcoin’s decline and weakness in other altcoins. Institutional investors saw outflows from Ethereum Spot ETFs on October 9th, ending a 14-day period of inflows, highlighting the impact of macroeconomic uncertainty. However, BitMine Immersion Technologies made a significant move by adding $104 million worth of ETH to their treasury, suggesting a divergence in short-term trading strategies and long-term accumulation. The ETH/BTC ratio also weakened, reflecting its relative weakness against Bitcoin. Technical indicators showed ETH breached its 7-day SMA of $4,508, even testing the 38.2% Fibonacci retracement level around $4,406. The RSI-14 now hovers near 49.6%, signaling neutral momentum, while funding rates turned negative (-0.0059%), indicating traders are increasingly bearish on further upside. Analysts predict support for ETH near $4,000 but warn that persistent selling could lead to retesting the $3,850 region. However, institutional accumulation and network strength could provide a long-term buffer once global macroeconomic conditions stabilize.