Trump’s China Software Tariffs Trigger Crypto Market Shockwave

On October 10th, President Donald Trump’s announcement of a 100% tariff on Chinese software triggered a dramatic reaction in the global financial markets, particularly within the crypto sector. Bitcoin’s price plummeted by over 8.4%, exceeding a $16 billion loss as a result of automated trading strategies and high leverage among investors. 1.6 million traders were significantly impacted, with some platforms recording substantial losses within hours. This unprecedented volatility highlights the heightened sensitivity of crypto markets to geopolitical risks.