Well, folks, it seems the digital gold rush took a nosedive faster than a cat on a hot tin roof. In just a single day, about 1,666,361 poor souls who fancied themselves as crypto wizards found their fortunes evaporate smoother than a snowstorm in July. The grand total? A staggering $19.35 billion – enough to make even the most hardened scalawag blink in disbelief, especially right after the market had a little spark of a comeback.
Donald Trump Warns of 100% Tariffs on Chinese Imports
Meanwhile, as if the crypto world wasn’t chaotic enough, ol’ Donald Trump – yes, the fellow with more hair than sense – decided to shoot his mouth off about slapping a 100% tariff on Chinese goods. Looks like trade wars aren’t just for the old days, folks. This hawkish move stirred up a hornet’s nest from Wall Street to digital alleyways, leaving everyone to wonder if the new season of “Trade War: The Sequel” has already begun.
On October 11, the market took another hit, with long traders feeling the sting of loss worse than a barefoot boy stepping on a rusty nail. It was a rough day for Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and even the favorite meme coins – all caught in the crossfire. The biggest single hit? A cool $203.36 million on Hyperliquid – enough cash to buy a small island, or at least a really fancy boat.
And just to make things more interesting, Trump’s tariff threat was buzzing around Social Media, causing quite the stir. Folks on Wall Street and in Crypto-land alike were scratching their heads, thinking, “Is this the beginning of the next big fight, or just another day in paradise?” Meanwhile, the government’s shutdown is playing hide-and-seek with economic data, making everything more uncertain than a squirrel in a nut shop.
Bitcoin Takes a Nap Below $110,000
As for Bitcoin – that bastion of hope and digital dreams – it decided to take a little trip south. Dropping below the $110,000 mark, it’s currently lounging at $111,845.05, down 8.17% in just 24 hours. This comes after a shiny new peak above $126,000 just a week ago, leaving traders scratching their heads and wondering if it’s just a temporary hiccup or the beginning of the bottomless pit.
Ethereum, that other coin everyone seems to love (or love to hate), slid from over $4,800 to a chilly $3,829.24, losing 11.93%. Solana, not to be left out, dropped nearly 15%, down to $186.54. Even Binance Coin – the fan favorite this season – took a hit, dropping over 10%, now trading at $1,125.58.
Guess the traders who thought the good times would roll forever are now sitting on the sidelines, staring at screens with about as much hope as a summer snowstorm.
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2025-10-11 20:11