Bitcoin Price dropped to the $ 108,000 area today as the escalating merchant voltages in US China sent shock waves through global markets.
President Donald Trump today announced that China has announced “aggressive” and “unprecedented” export control on almost all products affecting all countries starting November 1, 2025. In response, Trump said the US will impose a 100% tariff on Chinese goods and enforce export control on critical software from the same date.
Bitcoin Price dumped as a result of the news and dumped from approx. $ 117,000 in the early afternoon to under $ 108,000. At the time of writing, the Bitcoin price is back to the $ 113,000 series with high volatility.
At times, the Bitcoin award had fallen approx. 10% with many other cryptocurrencies down 20-40%
Markets respond to trade relations in US-China
Global markets sold earlier today after President Trump’s announcement of plans to dramatically increase customs duties on Chinese goods. The move came in response to Peking’s new restrictions on rare land exports that the US president accused China of using to “monopolize” critical resources.
China’s tightened export control now extends to foreign products that contain or were treated by Chinese rare land, which signaled a greater escalation in trade.
The policy extension – targeted counter -defense, semiconductor and AI sectors – triggered concern about a global supply chain shock.
Risk assets tumbled widely today, with the S&P 500 dropped 2% and Nasdaq dropped 2.7%. Trump also canceled a scheduled meeting with Xi Jinping on APEC and promised to “financially address” China’s movement.
Trump described earlier Peking’s actions as “creepy and hostile” in which he claimed the United States is holding even greater leverage but has refrained from using it – so far.
Crypto -related stocks, such as Circle (CRCL), Robinhood (Hood), Coinbase (Coin) and Microstracky (Mstr), dropped 3% -12% all day.
Bitcoin price reaction
Bitcoin started October on a tear and hit fresh high altitudes over $ 126,000 during the first week of the month before easeing back to the $ 121,000 series in recent days.
Market analysts say the rally reflects what many describe as the “euphoria phase” of the ongoing bull cycle – a step that is historically marked with rapid price acceleration and growing retail enthusiasm.
If previous cycles are any guide, the current momentum can propel Bitcoin towards the range $ 180,000- $ 200,000 before the mood is cooled.
The leading cryptocurrency has risen more than 30% since the beginning of the year, powered by stable inflow to US-notched Bitcoin ETFs and a resurgence of investors’ confidence across the digital asset market.