Crypto market Announcement Today, October 11: What Just Occurred in Crypto? Bitcoin Value Plummeting, Ethereum USD Below $4K, Additional Hardships Ahead? More Tariffs from China?
Today’s cryptocurrency update highlights a significant decline driven by escalating global tensions and unforeseen policy changes. Bitcoin’s value briefly fell below $101,000, and Ethereum USD dropped below $3,300 before gradually recovering to $3,800 amidst a surge of liquidations. This occurred shortly after a bombshell announcement of new tariffs from Chinese imports by none other than US President Donald Trump. The US has instituted 100% duties on technology imports from China, amplifying risk-averse behavior in both the crypto and equities markets.
BREAKING:
President Trump will implement a 100% tariff on China starting November 1st. pic.twitter.com/eBCzqjqIhh
— Watcher.Guru (@WatcherGuru) October 10, 2025
Per CoinGlass, more than $19 billion in crypto positions were liquidated in a mere 24 hours—surpassing the figures seen during both the FTX disaster and the Covid crisis. CoinGecko indicates an approximate loss of $200 billion from the total cryptocurrency market cap before a mild rebound to $3.83 trillion.
Covid crash: $1.2B in liquidations
FTX crash: $1.6B in liquidations
Today: $19.31B in liquidations
You wished you had bought during the COVID crash.
This is your COVID crash. pic.twitter.com/OnmNY7e86s— Quinten | 048.eth (@QuintenFrancois) October 11, 2025
Bitcoin Price Resilience Tested by China Tariffs and Liquidations
In spite of the turmoil, Bitcoin’s price surged past $110,000, demonstrating resilience amid macroeconomic challenges. According to CoinGlass, the total long liquidations for BTC reached $5.39 billion, while Ethereum experienced $4.44 billion in similar losses.
(source – Long Liquidation, Coinglass)
In the meantime, data from DefiLlama shows that Decentralized finance TVL has decreased to $147 billion, reflecting an 11% drop in 24 hours. On the other hand, perpetual futures volume soared by 24% this week, indicating that traders remain active and are adapting.
(source – Decentralized finance TVL, Defillama)
With Bitcoin dominance remaining at 58%, the crypto asset markets seem unsettled, and some predict further declines in the forthcoming week. Although ETH USD is down, it has reclaimed a position above $3,800, still over three times its low of $1,200 during the bear phase 2-3 years ago. This event marked a significant price drop resultant from macroeconomic spillover. The major decline is predominantly due to increasing yields and China tariffs, rather than any intrinsic crypto problem. Unlike the FTX collapse, this was not a black swan event.
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Ethereum USD Recovery and Potential Altcoin Rotation
Ethereum USD experienced a 13% drop on the day, yet it has already bounced back 12% from its lows. The historical trend, often referred to as “Uptober,” remains intact with two positive days recorded this week. If historical cycles are any indication, meme coins and smaller altcoins might soon attract investments once the panic subsides. Such market movements were prevalent from 2012 to 2016.
Lmao the funniest thing is this type of crypto price action was totally normal from 2012-2016
It was nearly a weekly occurrence.
Be thankful
— Crypto Bitlord (@crypto_bitlord7) October 10, 2025
DefiLlama shows daily perpetual volume at $47 billion and $33 billion in DEX trading, indicating that interest in crypto is still present. With ETH USD on the rise and Bitcoin’s value stabilizing, the market could be preparing for a rotation phase.
While much of today’s crypto announcement may seem bleak, a thorough examination indicates this is a macro shakeout rather than a fundamental breakdown. As China tariffs sway global sentiment, cryptocurrency’s next breakout could be just around the corner.
Stay resilient, maintain your position, and remain calm. Leveraged trading is susceptible to manipulation. Exchanges won’t part with your money easily. This might be the perfect time to shop.
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Crypto Down But Solana Treasuries Expanding: 3 Best Solana Meme Coins to Buy
Institutional investments continue to flow into Solana even as the overall cryptocurrency trading market softens, drawing new attention to the most liquid meme-coin trades in the chain.
A newly rebranded public company focused on Solana (ticker: HSDT) announced on Friday that it has secured Coinbase, BitGo, and Anchorage Digital as custodians while expanding its SOL-denominated corporate treasury.
The update, made at 8 a.m. ET, underscores how institutional infrastructure around Solana is growing at a time when cryptocurrency prices have taken a hit over the last 24 hours.
Read the full story here.
Will STBL USDY Pick Trigger Major ONDO Crypto Upward movement?
A $50 million mint window has just been created for a new dollar-pegged stablecoin, and traders are speculating if this will provide ONDO crypto with the momentum it requires.
STBL.com, which supports the USST dollar crypto token, declared on Friday that it has chosen Ondo Finance’s USDY as its primary collateral, permitting up to $50 million in new USST issuance.
This strategic alliance, announced on October 10 across various locations including Dubai, London, and New York, illustrates STBL’s strategy to enhance its dollar liquidity using tokenized US Treasuries as its foundation.
Read the full story here.
The post Crypto market News Today, October 11: What Just Happened to Crypto? Bitcoin Price Tanking, Ethereum USD Under $4K, More Pain Coming? More China Tariffs? appeared first on 99Bitcoins.
