JUST IN: Michael Saylor says there are “no tariffs on Bitcoin.”
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Crypto wrap: Trump comments trigger BTC sell-off below $118k, ZEC, LTC hold gains
Окт., 10, 2025
3 мин. на чтение
Benson Toti
для Invezz
Bitcoin (BTC) price fell to lows of $117,660 on Friday, while Ethereum (ETH) slipped to lows of $4,100 as the top coins grappled with latest sell-off, the sharp declines coming after stocks also plummeted on President Donald Trump’s comments on China.
While the cryptocurrencies remained near key support levels, overall market reaction meant prices could retest demand zones further below.
Away from the top crypto market by market cap coins, privacy-focused Zcash (ZEC) and Litecoin (LTC) were holding onto gains.
BTC dips below $118,000 – what happened?
Bitcoin price hit lows of $117,660 on major exchanges, with BTC plunging to $117,665 on Coinbase.
This is after bulls tested the $122,600 mark amid a likely upward flip.
However, as stocks plunged, Bitcoin followed suit. The sharp drop aligned with the Dow Jones Industrial Average index dropping by over 500 points.
So what happened?
President Trump’s Truth Social post spooked investors. His comments and threats of cancelling an expected meeting with Xi Jinping triggered the selling. Here’s what Trump said:
“Some very strange things are happening in China! They are becoming very hostile, and sending letters to Countries throughout the World, that they want to impose Export Controls on each and every element of production having to do with Rare Earths” he posted.
“Dependent on what China says about the hostile “order” that they have just put out, I will be forced, as President of the United States of America, to financially counter their move.” Trump added.
Tariff threats or implementation could see risk assets plummet. But analysts are bullish on Bitcoin and crypto.
Ethereum drops to near $4,000 as it mirrors BTC
As Bitcoin slipped, panic selling cascaded to Ethereum.
The top altcoin dropped more than 3% to retest support near $4,000.
While the cryptocurrency remains above the key level, any further losses could trigger a cascade that brings bears into control.
ETH holders will likely watch the broader market for signals, with spot ETF approvals among catalysts for major altcoins.
Also on deck will be any moves in the US government shutdown impasse, Trump’s threats against China and Federal Reserve’s rate decision later in the month.
Geopolitical tensions also remain a potential headwind if the Israel-Hamas peace deal fails to hold.
Zcash, Litecoin among altcoins holding onto gains
Amid the majors’ restraint, Zcash has held onto gains as it remains 23% up in the past 24 hours.
ZEC has led privacy coins higher and traded near $236 after breaching $269 earlier in the day.
Zcash’s parabolic rally also saw Dash (DASH), Tornado Cash (TORN) and Decred (DCR) trend among top gainers in the past 24 hours.
Meanwhile, spot ETF speculation helped Litecoin (LTC) price surge to highs of $135.
Bulls may target a breakout to $200 and higher in the short term. Long-term targets include the all-time high above $400 and the psychological $1000 mark.
FOMO-driven buying if LTC ETFs go live will provide tailwinds.
Elsewhere, the market conditions likely to impact Bitcoin and altcoins will be worth watching for Litecoin bulls.
The post Crypto wrap: Trump comments trigger BTC sell-off below $118k, ZEC, LTC hold gains appeared first on Invezz
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$19.35 Billion in 24 Hours, Largest Crypto Liquidation Event Recorded
The crypto market's liquidation hits $19.35 billion, marking the largest of such even...
Окт., 11, 2025
2 мин. на чтение
от Coinspeaker
Crypto wrap: Trump comments trigger BTC sell-off below $118k, ZEC, LTC hold gains
Окт., 10, 2025
3 мин. на чтение
Benson Toti
для Invezz
Bitcoin (BTC) price fell to lows of $117,660 on Friday, while Ethereum (ETH) slipped to lows of $4,100 as the top coins grappled with latest sell-off, the sharp declines coming after stocks also plummeted on President Donald Trump’s comments on China.
While the cryptocurrencies remained near key support levels, overall market reaction meant prices could retest demand zones further below.
Away from the top crypto market by market cap coins, privacy-focused Zcash (ZEC) and Litecoin (LTC) were holding onto gains.
BTC dips below $118,000 – what happened?
Bitcoin price hit lows of $117,660 on major exchanges, with BTC plunging to $117,665 on Coinbase.
This is after bulls tested the $122,600 mark amid a likely upward flip.
However, as stocks plunged, Bitcoin followed suit. The sharp drop aligned with the Dow Jones Industrial Average index dropping by over 500 points.
So what happened?
President Trump’s Truth Social post spooked investors. His comments and threats of cancelling an expected meeting with Xi Jinping triggered the selling. Here’s what Trump said:
“Some very strange things are happening in China! They are becoming very hostile, and sending letters to Countries throughout the World, that they want to impose Export Controls on each and every element of production having to do with Rare Earths” he posted.
“Dependent on what China says about the hostile “order” that they have just put out, I will be forced, as President of the United States of America, to financially counter their move.” Trump added.
Tariff threats or implementation could see risk assets plummet. But analysts are bullish on Bitcoin and crypto.
JUST IN: Michael Saylor says there are “no tariffs on Bitcoin.”
Ethereum drops to near $4,000 as it mirrors BTC
As Bitcoin slipped, panic selling cascaded to Ethereum.
The top altcoin dropped more than 3% to retest support near $4,000.
While the cryptocurrency remains above the key level, any further losses could trigger a cascade that brings bears into control.
ETH holders will likely watch the broader market for signals, with spot ETF approvals among catalysts for major altcoins.
Also on deck will be any moves in the US government shutdown impasse, Trump’s threats against China and Federal Reserve’s rate decision later in the month.
Geopolitical tensions also remain a potential headwind if the Israel-Hamas peace deal fails to hold.
Zcash, Litecoin among altcoins holding onto gains
Amid the majors’ restraint, Zcash has held onto gains as it remains 23% up in the past 24 hours.
ZEC has led privacy coins higher and traded near $236 after breaching $269 earlier in the day.
Zcash’s parabolic rally also saw Dash (DASH), Tornado Cash (TORN) and Decred (DCR) trend among top gainers in the past 24 hours.
Meanwhile, spot ETF speculation helped Litecoin (LTC) price surge to highs of $135.
Bulls may target a breakout to $200 and higher in the short term. Long-term targets include the all-time high above $400 and the psychological $1000 mark.
FOMO-driven buying if LTC ETFs go live will provide tailwinds.
Elsewhere, the market conditions likely to impact Bitcoin and altcoins will be worth watching for Litecoin bulls.
The post Crypto wrap: Trump comments trigger BTC sell-off below $118k, ZEC, LTC hold gains appeared first on Invezz
Читать больше
$19.35 Billion in 24 Hours, Largest Crypto Liquidation Event Recorded
The crypto market's liquidation hits $19.35 billion, marking the largest of such even...
Окт., 11, 2025
2 мин. на чтение
от Coinspeaker