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US President Donald Trump just said that the tariffs that were supposed to be imposed on China as of November 1 won’t stand.<\/p>\n
Bitcoin’s price reacted with an immediate uptick that pushed it from its multi-week bottom (on most exchanges) back to $106,000.<\/p>\n
Recall the developments that took place last Friday when the POTUS threatened China with a new wave of tariffs, which were later made official with a starting date of November 1. Some Chinese products were supposed to be taxed at over 100%.<\/p>\n
This political turmoil caused an immediate crash in the cryptocurrency markets. Bitcoin stood above $122,000 but crumbled below $117,000 within minutes, and then the cascading effect of billions of dollars in overleveraged positions drove it even further south<\/a> to under $110,000 on most exchanges and all the way down to $101,000 on Binance.<\/p>\n Further reports on the matter revealed that this might have been one big misunderstanding<\/a> between Beijing and Washington, and the tension between the two superpowers began to de-escalate.<\/p>\n Just minutes ago, Trump was asked whether the 100% tariffs on China will stand. He responded with a “No,” and added that “I think we will be fine with China.” Both countries’ presidents are supposed to meet in two weeks.<\/p>\n BREAKING: President Trump was just asked if his 100% tariff on China will stand.<\/p>\n His response: \u201cNo.\u201d<\/p>\n \u2014 The Kobeissi Letter (@KobeissiLetter) October 17, 2025<\/a><\/p>\n<\/blockquote>\n BTC’s price reacted with another instantaneous swing, this time to the upside. The asset had tumbled<\/a> below $104,000 to mark a multi-month low (on most exchanges), but bounced to over $106,000 as of press time.<\/p>\n The post Bitcoin Price Reacts Immediately as Trump Says Tariffs on China Won’t Stand<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\n
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