{"id":37451,"date":"2025-10-30T06:14:34","date_gmt":"2025-10-30T06:14:34","guid":{"rendered":"https:\/\/financialrush.com\/?p=37451"},"modified":"2025-10-30T06:14:34","modified_gmt":"2025-10-30T06:14:34","slug":"u-s-cuts-tariffs-on-china-can-bitcoin-bounce-from-the-sub-108k-dump","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=37451","title":{"rendered":"U.S. Cuts Tariffs on China: Can Bitcoin Bounce from the Sub-$108K Dump?"},"content":{"rendered":"<p> \n<\/p>\n<p>The presidents of the two most powerful economies in the world met in South Korea earlier today, which resulted in several tariff reductions on China.<\/p>\n<p>US President Donald Trump outlined the decisions made after the meeting, including an overall tariff cut from 57% to 47%. Some products, such as fentanyl, were dropped to 10%.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">BREAKING: President Trump announces China tariff reductions after &#8220;amazing&#8221; meeting with President Xi, including:<\/p>\n<p>1. Reduced Fentanyl Tariffs to 10%, effective immediately<\/p>\n<p>2. Overall tariffs on China reduced from 57% to 47%<\/p>\n<p>3. China to &#8220;discuss&#8221; chip restrictions with Nvidia\u2026<\/p>\n<p>\u2014 The Kobeissi Letter (@KobeissiLetter) <a href=\"https:\/\/twitter.com\/KobeissiLetter\/status\/1983758347091288146?ref_src=twsrc%5Etfw\">October 30, 2025<\/a><\/p>\n<\/blockquote>\n<p>Both countries will also collaborate on the war between Russia and Ukraine, while China agreed to discuss chip restrictions with Nvidia. The POTUS further <a href=\"https:\/\/www.cnbc.com\/2025\/10\/30\/trump-cuts-fentanyl-tariffs-on-china-to-10percent-says-us-reached-rare-earths-deal-.html?taid=6902f54568f70400015ead0f&amp;utm_campaign=trueanthem&amp;utm_content=main&amp;utm_medium=social&amp;utm_source=twitter\">revealed<\/a> a 1-year agreement with Beijing on rare earth supplies, and said he will head to China in April 2026.<\/p>\n<blockquote>\n<p>&#8220;On a scale of 0 to 10, I would say the meeting with President Xi was a 12,&#8221; concluded Trump.<\/p>\n<\/blockquote>\n<p>The trade negotiations between the two nations have severely impacted BTC&#8217;s price in the past. Recall the events that transpired when Trump announced a new set of tariffs on October 10 and bitcoin&#8217;s immediate plunge from over $121,000 to under $110,000 on most exchanges.<\/p>\n<p>Earlier today, the asset had <a href=\"https:\/\/cryptopotato.com\/over-700m-in-liquidations-as-btc-and-eth-sink-after-fed-rate-cut\/\">dumped<\/a> below $108,000 for the first time in a week, which was rather surprising given the Fed&#8217;s rate cut <a href=\"https:\/\/cryptopotato.com\/us-federal-reserve-cuts-rates-by-25-basis-points-bitcoin-price-reacts\/\">announced<\/a> yesterday. Nevertheless, BTC bounced off to over $110,000 as of press time when the US-China deal news went live.<\/p>\n<p>Still, BTC&#8217;s plunge on a daily scale has liquidated more than $360 million in bitcoin-related longs, while the overall wrecked positions across the entire market are worth over $800 million, according to CoinGlass.<\/p>\n<figure id=\"attachment_1418107\" aria-describedby=\"caption-attachment-1418107\" style=\"width: 1835px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/BTCUSD-20.png\"><\/a><figcaption id=\"caption-attachment-1418107\" class=\"wp-caption-text\">BTCUSD. Source: TradingView<\/figcaption><\/figure>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/u-s-cuts-tariffs-on-china-can-bitcoin-bounce-from-the-sub-108k-dump\/\">U.S. Cuts Tariffs on China: Can Bitcoin Bounce from the Sub-$108K Dump?<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>\n<br \/><a href=\"https:\/\/cryptopotato.com\/u-s-cuts-tariffs-on-china-can-bitcoin-bounce-from-the-sub-108k-dump\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"The presidents of the two most powerful economies in the world met in South Korea earlier today, which&hellip;\n","protected":false},"author":2,"featured_media":37452,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-37451","post","type-post","status-publish","format-standard","has-post-thumbnail","category-crypto","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/37451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37451"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/37451\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/37452"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}