"Trump's Trade Respite Causes Crypto Market to Crash: What's Happening?"

The recent statements made by US President Donald Trump regarding China have led to a historic collapse in the cryptocurrency market. A total of $800 billion was wiped off the market capitalization, while some altcoins alarmingly fell to $0. Investors panicked and began selling in response to these developments that occurred on Friday night.

Trump announced that starting from November 1, 2025, China would implement extensive export restrictions, and the US would impose a new 100% additional tariff on the same date. These statements raised concerns that global trade wars could reignite and created a negative atmosphere for cryptocurrency investors.

In the aftermath of these developments, Bitcoin lost 8% of its value, dropping from $122,000 to $102,000. Ethereum, on the other hand, fell 12% and dropped below $3,400. Major cryptocurrencies such as BNB, XRP, and Solana also experienced value losses ranging from 12% to 18%.

However, the real devastation occurred in the altcoin market. Uniswap saw a loss of 27%, Arbitrum 25%, Ethereum Classic 24%, Worldcoin 21%, and Filecoin 28%. Visual data shows that many projects lost between 40% to 50% of their value in the last week. Some low-volume altcoins collapsed to $0 following a sudden wave of selling. This situation particularly led to the complete removal of projects with low liquidity from the market.

The total value of the market dropped from $4.12 trillion to $3.3 trillion, resulting in a loss of approximately $820 billion within just a few hours. According to Coinglass data, the total amount of liquidated leveraged positions in the last 24 hours approached $20 billion, leading to the closure of positions at a loss for 1.5 million investors. In this context, the GMCI 30 index fell by 13% during the day, dropping below 200 points and recording the sharpest drop of the year.

Meanwhile, major exchanges like Binance, OKX, and Bybit experienced high trading volumes. Binance stated, “Due to intense market activity, there are delays in the system, but funds are safe (SAFU),” to inform investors.

Ironically, the TRUMP token, named after Trump himself, was also affected by this wave of selling. The token dropped 30%, falling to $5.41, marking an all-time low. A similar situation occurred with cryptocurrency-related stocks. Bitmine, Circle, and Bitdeer shares saw nearly 20% value losses during the day, as investors began to discuss whether “the crypto winter is returning?”