In a dramatic market move, US President Donald Trump announced a sweeping 100% tariff on Chinese tech exports, commencing November 1, 2025. This action triggered a substantial decline in the cryptocurrency market, leading to over $19 billion in leveraged positions being liquidated within hours. The announcement highlights cryptocurrencies’ vulnerability to geopolitical instability, as witnessed by a significant drop in Bitcoin and Ethereum’s prices. Notably, institutional players such as ETF issuers, exchanges like Coinbase and Gemini have been significantly impacted. This event has raised concerns about the potential for future market volatility caused by international trade policies, especially their influence on digital asset markets. Experts suggest that long-term implications may include shifts in market liquidity and the involvement of institutions.