Crypto Market Suffers Massive Plunge as Global Politics Roil Markets

On October 11, 2025, the global cryptocurrency market experienced a dramatic and unprecedented collapse, leaving investors reeling from massive losses. This downturn was triggered by US President Donald Trump’s decision to impose a 100% tariff on Chinese products, a move seen as retaliation against China’s rare earth element exports. This action severely impacted investor confidence, leading to simultaneous plummets in both the digital and traditional markets.