Following Donald Trump’s comments on potential tariffs against China, Bitcoin and Ethereum witnessed sharp declines. The crypto markets saw over $770 million in liquidations within a 24-hour period, largely impacting long positions. While the market remains cautious due to uncertainties surrounding the U.S. government shutdown, experts believe that Bitcoin might reach $140,000 before falling to $110,000 based on Myriad Markets predictions. Bitcoin traded around $117,890.18 with a market cap of $2.34 trillion, while Ethereum dropped to $4,106.14 with a market cap of $495.67 billion. The negative sentiment also swept through traditional markets like the Nasdaq (down 1.77%), S&P 500 (down 1.25%) and Dow Jones (down 0.83%). Short-term correlations between cryptocurrencies and traditional assets have resurfaced, highlighting heightened geopolitical events’ impact on trading.