
Bitcoin price fell to the $108,000 range today, as escalating US-China trade tensions and tariff talks sent shockwaves through global markets.
President Donald Trump to publish On Truth Social today, China announced “aggressive” and “unprecedented” export controls on almost all products, affecting all countries starting November 1, 2025. In response, Trump said the United States would impose a 100% tariff on Chinese goods and impose export controls on critical software starting on the same date.
The price of Bitcoin fell on this news, falling from around $117,000 in the early afternoon to below $108,000. At the time of writing, Bitcoin price is back in the $113,000 range with high volatility.
At times, the price of Bitcoin has fallen by almost 10% with many other cryptocurrencies falling by 20-40%.
Markets react to US-China trade relations
Global markets saw a sell-off earlier today after President Trump announced plans to significantly increase tariffs on Chinese goods. This step Came in response To Beijing’s new restrictions on exports of rare earth elements, which the US President accused China of using to “monopolize” vital resources.
China’s tightened export controls now extend to foreign-made products that contain or have been processed with Chinese rare earths, signaling a major escalation in the trade dispute.
The policy expansion – which targets the defence, semiconductor and artificial intelligence sectors – has raised fears of a global shock to the supply chain.
Risk assets fell broadly today, with the S&P 500 down 2% and the Nasdaq down 2.7%. Trump also canceled a scheduled meeting with Xi Jinping at the APEC summit, pledging to “financially confront China’s move.”
Trump previously described Beijing’s actions as “evil and hostile,” claiming that the United States possesses greater influence but has refrained from using it – until now.
Cryptocurrency-related stocks, such as Circle (CRCL), Robinhood (HOOD), Coinbase (COIN), and MicroStrategy (MSTR), fell 3%-12% on the day.
Bitcoin price reaction
Bitcoin started off October on a rocky note, reaching all-time highs above $126,000 during the first week of the month before falling back to the $121,000 range in recent days.
Market analysts say the rally reflects what many describe as the “euphoric phase” of the ongoing bull cycle — a phase historically marked by rapid price acceleration and heightened retail enthusiasm.
If previous sessions are any guide, current momentum could push Bitcoin towards the $180,000 to $200,000 range before sentiment cools.
The leading cryptocurrency has risen more than 30% since the beginning of the year, supported by steady inflows into US-listed Bitcoin ETFs and renewed investor confidence across the digital asset market.
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