Trump’s China Warning Triggers $700 Million Crypto Liquidation

HKAN | Oct 11

Trump’s China Warning Triggers $700 Million Crypto Liquidation

According to market reports, a recent warning from U.S. President Donald Trump regarding potential economic tensions with China has triggered a $700 million crypto liquidation across major exchanges within hours.

Trump’s comments, which hinted at possible tariffs and renewed trade restrictions on Chinese imports, rattled global markets — and the crypto sector reacted sharply, with Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) leading the sell-off.

Data from Coinglass shows that over 150,000 traders were liquidated in the past 24 hours, as leveraged positions unwound rapidly amid increased volatility. Bitcoin dropped nearly 4%, while Ethereum slipped below key support levels before partially recovering.

Analysts suggest that Trump’s remarks reignited concerns over global trade stability, causing investors to reduce exposure to risk-on assets such as cryptocurrencies.

Despite the sharp drop, some traders see the event as a healthy correction ahead of potential recovery, noting that long-term market fundamentals remain strong.