The crypto market collapsed after Trump's words about duties against China

The cost of bitcoin has dropped below $105,000 for the first time since June 2025 after US President Donald Trump announced the imposition of 100 percent duties against China. This was confirmed on October 11 by data from the Binance platform.

At 00:19 Moscow time, bitcoin fell by 13.68%, reaching the level of $ 104.764 thousand. By 00:34 Moscow time, the cryptocurrency exchange rate recovered slightly to $111.338 thousand, which remained 8.25% lower than the previous level.

The TON cryptocurrency exchange rate at 00:19 decreased by 78.85%, dropping to $0.575, but then partially recovered to $1.317, which left the drop at 51.56%.

The Ethereum coin also showed a decrease of 19.57%, dropping to $3,500.60, but then regained some of its losses, reaching $3,744.52, which remained 13.91% lower than previous values.

On the same day, Trump announced that from November 1, the United States would impose 100 percent duties on top of all existing tariffs on goods from the People's Republic of China (PRC), and also stated that from that moment export controls would be introduced on all critical Chinese software. Later it became known that TON also lost more than 40% of its value.

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