TACO Trade & Tariff Volatility: Can Trump’s ‘Confidence’ Avert a Bitcoin and Crypto Bloodbath by Nov. 1?
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Global markets are bracing for turbulence as President Donald Trump’s 100% tariff plan on Chinese imports approaches its November 1 activation date. Despite earlier speculation of a retreat, Trump recently told reporters, “I think we’re going to be fine with China,” suggesting confidence rather than concession.
The reassurance was followed by an unprecedented market decline triggered by his tariff rhetoric. Last week, Bitcoin lost nearly 16% in 24 hours, and over $19 billion in leveraged crypto positions were liquidated as traders scrambled to de-risk.
Related: Crypto Markets Bleed as Trump Escalates Tariff War With China
The cascade reflected not only macro fear but also renewed sensitivity to the “Trump factor,” a phenomenon that has repeatedly jolted risk assets since his return to office.
Understanding “TACO”: The Meme Behind the Market
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