Crypto Market Dips as Trump Stirs Tariff Drama with China – $770M Liquidated!

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Well, folks, it’s happening again. The cryptocurrency market is back in the red, like that awkward moment when you realize your phone’s been on silent all day – and it’s all because of a good old threat from Donald Trump. This time, he’s shaking his fists at China and their rare earths monopoly, and guess what? The market’s gone into a full meltdown. A cool $770 million in liquidations in the last 24 hours. Ouch. 🥴

According to the ever-reliable Coinspeaker and their trusty friends over at Coinglass (yes, the ones who are always there when things go south), the total liquidations hit $771.3 million. A whopping $613 million of that was from long positions. Oh, Ethereum, you were leading the charge with $233.32 million liquidated, while Bitcoin followed like a loyal puppy, losing $179.93 million. 🐶

Let’s break it down: Nearly 200,000 traders were forced to give up their positions, and guess what? The biggest liquidation came from the BTC/USD pair on Hyperliquid. It was a monster – a casual $11.61 million! Hyperliquid has been climbing up the ladder of perpetual exchanges, and apparently, it’s making quite a splash in the whale pool. 🐋

Liquidation heatmap and total liquidations in the last 24 hours of October 10, 2025 | Coinglass

Trump vs China: Rare Earths and Tariffs – The Drama Continues!

And here we are again, folks. Trump and Xi are at it – and this time, it’s over rare earths. Trump is having one of his ‘I’m-so-right’ moments, claiming that China’s getting way too cozy with controlling these materials, while holding the world hostage (okay, that’s dramatic, but it’s Trump). But wait, it gets juicier. He’s now threatening a “massive increase in tariffs” on Chinese goods. Someone give this guy a megaphone. 📣

Trump, in his latest presidential tweet, declares that China is “becoming very hostile” over these precious rare earths, a topic that’s clearly a big deal when it comes to EV batteries, tech, and, of course, defense systems. According to some folks at Polytechnique Insights, China controlled 69% of global production in 2023 – so they have all the power, and everyone knows it. 🙄

PRESIDENT TRUMP‘S STATEMENT ON CHINA JUST NOW:

1. China is “becoming very hostile” and controlling rare earths

2. “Always felt that China is lying, and now, as usual, I have been proven right”

3. China is “holding the world captive” in a “monopoly position”

4. There is “no…”
– The Kobeissi Letter (@KobeissiLetter) October 10, 2025

So, this whole rare earth drama, with China holding a massive share of the market, has got everyone talking. Not to mention, the whole tariff situation has traders sweating bullets, trying to figure out how to react. Meanwhile, altcoins like Litecoin and Zcash were living their best lives, with Litecoin showing a 15% surge and Zcash hitting some serious highs. It was a party, until Trump crashed it. 🎉💀

So, here we are, watching the crypto market tumble as Trump and China continue their back-and-forth. If you’re a trader, grab some popcorn – it’s going to be a bumpy ride. 🍿

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2025-10-11 02:45