Bitcoin price fell to the $108,000 range today as rising trade tensions and tariff talks between the United States and China sent shockwaves through global markets.
President Donald Trump posted today on Truth Social that China has announced “aggressive” and “unprecedented” export controls on nearly all products, affecting all countries starting Nov. 1, 2025. In response, Trump said the United States will impose a 100% tariff on Chinese products and enforce export controls on critical software starting on the same date.
The price of Bitcoin fell as a result of the news, falling from approximately $117,000 in the early afternoon to below $108,000. At the time of writing, bitcoin price has returned to the $113,000 range with high volatility.
At times, the price of bitcoin fell by about 10% and many other cryptocurrencies fell by 20% to 40%.
Markets react to US-China trade relations
Global markets sold off early today following President Trump’s announcement of his plans to dramatically increase tariffs on Chinese goods. The move came in response to Beijing’s new restrictions on rare earth exports, which the US president accused China of using to “monopolize” critical resources.
China’s strict export controls now extend to foreign-made products that contain or were processed with Chinese rare earths, signaling a major escalation in the trade dispute.
The expansion of the policy, targeting the defense, semiconductor and artificial intelligence sectors, raised concerns about a shock to the global supply chain.
Risk assets fell broadly today, with the S&P 500 down 2% and the Nasdaq down 2.7%. Trump also canceled a planned meeting with Xi Jinping at APEC, vowing to “financially counter” China’s move.
Trump previously described Beijing’s actions as “sinister and hostile,” claiming that the United States has even greater influence but has refrained from using it… until now.
Cryptocurrency-related stocks such as Circle (CRCL), Robinhood (HOOD), Coinbase (COIN), and MicroStrategy (MSTR) fell between 3% and 12% throughout the day.
Bitcoin price reaction
Bitcoin started October strong, reaching new all-time highs above $126,000 during the first week of the month before falling back to the $121,000 range in recent days.
Market analysts say the rally reflects what many describe as the “euphoria phase” of the current bull cycle, a stage historically marked by rapid price acceleration and growing retail enthusiasm.
If past cycles are any guide, the current momentum could push Bitcoin towards the $180,000 to $200,000 range before sentiment cools.
The leading cryptocurrency is up more than 30% since the start of the year, driven by steady inflows into US-listed Bitcoin ETFs and a resurgence in investor confidence across the digital asset market.
