Crypto Market Wipes Out $19 Billion as Trump Announces 100 % China Tariffs

 Crypto Market Wipes Out $19 Billion as Trump Announces 100 % China Tariffs

New Delhi / Global, October 12, 2025 — The cryptocurrency market was rattled today as U.S. President Donald Trump unveiled sweeping 100 % tariffs on Chinese tech products and tightened export controls on critical software. The announcement triggered sharp panic-selling across digital assets, resulting in over $19 billion in liquidations — the largest single-day wipeout in crypto history. 

📉Fallout in Digital Assets

Bitcoin dropped by more than 8 %, slipping toward $104,782, while Ethereum and major altcoins also plunged. The overall market capitalization of the crypto sector dropped sharply, and trading volumes slipped as investors raced for safety. 

🌐Global & Regional Reactions

In India, the crypto markets mirrored the global decline, with Bitcoin and Ethereum entering the red zone. 

Analysts see the crash as a combination of macroeconomic shock, geopolitical risks, and excessive leverage across derivatives positions. 

Meanwhile, India is increasing scrutiny on offshore exchanges. A recent tax probe into Binance-linked accounts is intensifying pressure on traders. 

🔍 Regulatory & Policy Implications

At the Global Fintech Fest in Mumbai, discussions intentionally steered clear of cryptocurrencies and stablecoins — underscoring India’s cautious stance toward digital asset regulation. The government’s preference is clearly leaning toward its own digital infrastructure, such as the e-rupee and the newly launched RBI retail sandbox. 

🔮What to Watch

Will China retaliate with countermeasures that further rattle markets?

Can Bitcoin and Ethereum find support levels around $100,000 and $3,800 respectively?

Will India enforce stricter compliance for crypto investors via taxation or new regulation?

How fast will institutional and retail capital return to the crypto market once volatility subsides?

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