The global market experienced a significant shakeup following Donald Trump’s announcement of a 100% tariff on all imports from China. The move, shared via his Truth Social platform, immediately sent ripples across crypto markets, leading to a historic crash in prices. Bitcoin, which had stabilized at $122,000, briefly dipped below the $110,000 mark, while Ethereum also saw an equivalent decline of over 11%. Other cryptocurrencies like XRP, DOGE, and ADA were significantly affected, with losses ranging from 19% to 25%, respectively. This cascading effect has resulted in a market cap drop exceeding 9% to settle at $3.8 trillion. The announcement reignited trade tensions between the US and China, leading to retaliatory restrictions on rare earth exports by China. This sudden volatility led to massive crypto liquidations, exceeding $19 billion, as traders sought refuge in stablecoins and less volatile assets amidst market uncertainty.