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Trump's announcement of tariffs on China has crashed the cryptocurrency market

Trump
# 11 October 2025 06:45 (UTC +04:00)

The cryptocurrency market has collapsed after US President Donald Trump announced tariffs on China, marking the biggest drop since early April, APA reports, citing Bloomberg.

"The collapse was the biggest since early April. Bitcoin, the largest cryptocurrency, fell more than 12% after Trump's announcement on the Truth Social platform and then stopped falling," the agency writes.

The agency also notes that within an hour of Trump's statement, the cryptocurrency market lost more than $6 billion.

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