Global crypto markets witnessed a sharp sell-off on renewed US–China trade tensions after President Donald Trump announced a 100% tariff on Chinese imports starting November 1. The move triggered a broad “risk-off” sentiment across equities and digital assets, with traders rushing to cut exposure amid rising volatility.
At 8:00 AM IST, Bitcoin (BTC) fell 7.56% to $112,177.01, while BNB dropped 10.75% to $1,117.32. Ethereum (ETH) slumped 13.03% to $3,806.57, and Solana (SOL) slid 15.00% to $187.94.
Among altcoins, Dogecoin (DOGE) declined 20.70% to $0.1975, and XRP slipped 13.49% to $2.43, extending the global crypto market’s downward momentum.
The sell-off followed a series of macro triggers, including:
- Fresh US–China trade escalation after Trump’s tariff announcement
- Valuation pressure on global tech and AI stocks
- Rising US bond yields impacting growth-linked assets
- Caution ahead of key macroeconomic data releases
Analysts said the market mood has turned defensive, with investors shifting away from risk assets as global uncertainty intensifies.