The cryptocurrency market has experienced a sharp collapse in recent hours, with the price of Bitcoin falling to its lowest level since July, recording the largest daily liquidation exceeding $19 billion, and market losses approaching $900 billion at its peak.

The week began with a clear upward trajectory for Bitcoin, as it surpassed the $124,000 barrier on Sunday and continued to rise to $126,000 on Monday, marking its highest historical level.

However, momentum has gradually declined, and prices remained relatively stable around 122,000 dollars until Friday evening.

The dramatic shift came after statements from U.S. President Donald Trump, accusing China of unfair trade practices, announcing a 100% tariff on Chinese imports starting November 1.

This political escalation immediately reflected on the markets, particularly in the highly leveraged cryptocurrency sector.

Within hours, the price of Bitcoin dropped from 122,000 dollars to below 101,000 dollars on some trading platforms, and 105,000 dollars on others, recording its lowest price in over three months.

More than 1.6 million liquidation trades were witnessed, on the worst day in terms of loss volume in 2025.

Despite attempts to recover later and the price reaching around 112,000 dollars, the price of Bitcoin is still down by more than 8% from its daily peak.

The total market capitalization fell to 2.235 trillion dollars, with a dominance of 58%.

Alternative currencies are bleeding with Bitcoin:

Despite the violent drop of Bitcoin, the losses were heavier in the market of alternative digital currencies.

The ADA coin from Cardano fell by more than 65% from its peak to an annual low below 0.30 dollars, before rebounding to a level of 0.6 dollars.

Most other currencies saw double-digit declines, including:

$ETH by -11%

XRP by -12%

$SOL by -16%

DOGE by -22%

$LINK by -19%

XLM by -12.6%

SUI by -21%

The only exception was the digital currency ZEC, which rose by 12% to reach 255 dollars.

The total market capitalization of cryptocurrencies fell to around 3.3 trillion dollars at the worst moments of the crash, before partially recovering to 3.8 trillion.

However, the market is still down by more than 400 billion dollars compared to yesterday, Friday.

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