Overview

• President Trump said the United States will levy 100% tariffs on Chinese goods from November 1 or earlier and will apply export controls on critical software.
• Bitcoin briefly dropped nearly 16% to about $102,000 on Binance before recovering to roughly $112,600 by early Saturday, while Ethereum also pared steep losses.
• Global crypto market capitalization fell to about $3.74 trillion over 24 hours, a decline of roughly $350–400 billion, according to CoinMarketCap data.
• Exchanges liquidated more than $19 billion in positions affecting over 1.6 million traders in 24 hours, Coinglass reported, marking the largest wave since at least April.
• U.S. stock indexes also fell, with the Dow down 1.9%, the S&P 500 off 2.74% and the Nasdaq lower by 3.55% by Friday’s close.