\n<\/p>\n
Bitcoin’s price took a turn for the worse over the past hour or so after US President Donald Trump threatened China with a new set of tariffs.<\/p>\n
The POTUS said that Beijing is being “very hostile,” and said he always felt that they were lying.<\/p>\n
\nPRESIDENT TRUMP’S STATEMENT ON CHINA JUST NOW:<\/p>\n
1. China is “becoming very hostile” and controlling rare earths<\/p>\n
2. “Always felt that China is lying, and now, as usual, I have been proven right”<\/p>\n
3. China is “holding the world captive” in a “monopoly position”<\/p>\n
4. There is “no\u2026<\/p>\n
\u2014 The Kobeissi Letter (@KobeissiLetter) October 10, 2025<\/a><\/p>\n<\/blockquote>\n
Given his other negative remarks toward China and its regime, Trump went back to his playbook and threatened to impose a “massive increase in tariffs” on products produced in the Asian country.<\/p>\n
Although the financial markets have seen such statements before as well, the impact was rather instantaneous in terms of price actions, especially in crypto.<\/p>\n
Bitcoin, which charted a new all-time high just days ago, had calmed at around $121,300 before the tables turned and it slumped by over two grand to just over $119,000.<\/p>\n
Many altcoins followed suit, with ZEC, MNT, TAO, M, PUMP, LTC, BONK, and PENGU dropping by over 4% in an hour.<\/p>\n
As such, it’s no surprise that the total value of wrecked positions has skyrocketed to $250 million in just that past hour alone. On a daily scale, the liquidations are up to nearly $600 million, with more than 155,000 traders wrecked.<\/p>\n
<\/a> Crypto Liquidations on CoinGlass<\/figcaption><\/figure>\n The post $250M Liquidated Hourly: Bitcoin Crashes Below $120K as Trump Threatens China<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n
![<\/a>Crypto Liquidations on CoinGlass<\/figcaption><\/figure>\nThe post $250M Liquidated Hourly: Bitcoin Crashes Below $120K as Trump Threatens China<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/Screenshot-2025-10-10-182718.png\"){kind=link}