Crypto Carnage: Trump Tariff Tape-Bomb Triggers Largest Liquidation Event In History

Staff Writer

October 11, 2025

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The crypto market continues to reel from Friday’s historic sell-off, which resulted in over $20 billion in centralized exchange liquidations and several hundred million across the DeFi landscape.

Traders were clearly caught off guard as President Trump’s 100% tariff on Chinese imports Truth Social Post sent shockwaves across the crypto market. Data from CoinGlass shows the severity of the flash-crash, and at the time of writing, Bitcoin BTC$110,280 struggles to trade above $110,000, while other majors like Ether ETH$3,688 and SOL SOL$175.39 are down 3.74% and 7.0% respectively.

October has historically been a particularly strong month for Bitcoin’s price - a longstanding pattern that has led much of the crypto industry to expect the same results come every fall. The trend at first seemed poised to continue this year; the first week of this month, BTC surged some 10.5% to a new all-time high price north of $126,000.

Bitcoin plunged to $105,000 - its lowest since June - following Trump's aft-hours tweet yesterday, wrote ZH.

Trump’s aptly timed tweet on Friday happened in the last 2 hours of the trading day for equities and regulated crypto trading venues, so there is a chance for extended price downside as volumes and orderbooks in CeFi and CEXs thin out over the weekend.

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Staff Writer

The Manhattan is a new media outlet combatting the Leftist narrative in NYC. We love The Big Apple, we want it to succeed and prosper and are committed to revealing how flawed ‘progressive’ policy is ruinous. As crime spikes, the homeless crisis balloons, schools continue to degrade, and quality of life plummets, we’re determined to help effectuate change. The Manhattan will fearlessly chronicle the problems and try to offer solutions. We won’t shy away from issues, we will lean into them.