{"id":407721,"date":"2025-10-11T05:28:34","date_gmt":"2025-10-10T23:58:34","guid":{"rendered":"https:\/\/dripp.zone\/news\/crypto-markets-plummet-as-btc-briefly-drops-below-106k-crypto-news\/"},"modified":"2025-10-11T05:49:20","modified_gmt":"2025-10-11T00:19:20","slug":"crypto-markets-plummet-as-btc-briefly-drops-below-106k-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/crypto-markets-plummet-as-btc-briefly-drops-below-106k-crypto-news\/","title":{"rendered":"Crypto Markets Plummet as BTC Briefly Drops Below $106K – Crypto News"},"content":{"rendered":"

<\/p>\n

The drop comes after President Trump announced new tariffs on China.\n<\/p>\n

\n

The broader crypto market plunged sharply on Friday evening, with Bitcoin (BTC<\/a>) falling 12% as low as $105,896, and Ethereum (ETH<\/a>) slipping 17% under $3,600 amid renewed risk-off sentiment. <\/p>\n

BTC 24-hour price chart. Source: CoinGecko<\/figcaption><\/figure>\n

Major altcoins followed suit, dragging total crypto market capitalization down about 15% to $3.59 trillion, according to CoinGecko data. <\/p>\n

\"the-defiant\"
Total market cap over 24 hours. Source: CoinGecko<\/figcaption><\/figure>\n

XRP experienced a 31% drop as experts warned of a \u201cprice crash.\u201d The token is currently trading at $1.90, its lowest price since November 2024. Meanwhile, its market cap dropped by 15% on the day to $115 billion. <\/p>\n

\"the-defiant\"
XRP 24-hour price chart. Source: CoinGecko<\/figcaption><\/figure>\n

BNB is still holding out above $1,000, despite dropping nearly 20% on the day. The biggest loser on the day is Story\u2019s IP, which has decreased 61%. Dogecoin, the largest memecoin by market cap, also dropped 39% on the day. <\/p>\n

The crypto markets saw almost $7.44 billion in leveraged positions liquidated over the past hour, with a total of nearly $9 billion wiped out in the past 24 hours \u2014\u00a0by far the largest single-day crypto liquidation event ever \u2014 about $7.5 billion of which were long positions, per data from Coinglass<\/a>.<\/p>\n

\"the-defiant\"
Crypto market liquidations, April-present. Source: Coinglass<\/figcaption><\/figure>\n

Trump Announces Tariffs on China<\/h2>\n

This market downturn came shortly after President Donald Trump decided to impose an extra 100% tariff on China imports, CNBC reported. The new tariffs are expected to be implemented on Nov. 1. The move comes in response to China imposing export controls on rare earth minerals. <\/p>\n

\u201cIt has just been learned that China has taken an extraordinarily aggressive position on Trade in sending an extremely hostile letter to the World, stating that they were going to, effective November 1st, 2025, impose large scale Export Controls on virtually every product they make, and some not even made by them,\u201d Trump wrote in a Truth Social post on Friday.<\/p>\n

\u201cThis affects ALL Countries, without exception, and was obviously a plan devised by them years ago. It is absolutely unheard of in International Trade, and a moral disgrace in dealing with other Nations,\u201d Trump added.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The drop comes after President Trump announced new tariffs on China. The broader crypto market plunged sharply on Friday evening, with Bitcoin (BTC) falling 12% as low as $105,896, and Ethereum (ETH) slipping 17% under $3,600 amid renewed risk-off sentiment. BTC 24-hour price chart. Source: CoinGecko Major altcoins followed suit, dragging total crypto market capitalization […]<\/p>\n","protected":false},"author":2,"featured_media":407725,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-407721","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/407721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=407721"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/407721\/revisions"}],"predecessor-version":[{"id":407728,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/407721\/revisions\/407728"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/407725"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=407721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=407721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=407721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}