The crypto market is sharply down today as global risk sentiment deteriorates following renewed trade tensions between the United States and China. Bitcoin leads the decline, dropping 8.1% in the past 24 hours, while other top assets such as Ethereum and Solana also tumble. Meanwhile, investors are turning cautious as macroeconomic shocks continue to dictate short-term market behavior and shape the broader BTC price narrative.
Bitcoin Price Action: Breakout Turns Bearish As BTC Targets $100K Retest
Bitcoin’s daily chart reveals a clear incoming break below the ascending channel that supported its uptrend through much of 2025. The move signals weakening technical strength as selling pressure intensifies after weeks of failed attempts to breach the $125K resistance.
The current Bitcoin market price trades at $111,871, hovering near a critical mid-range support level. Notably, the Parabolic SAR dots have flipped above the price candles, confirming a shift in short-term control toward sellers. Meanwhile, the RSI sits near 43, suggesting declining buyer conviction and room for further downside.
Bitcoin now trades within a broad consolidation zone stretching from $100K to $125K. A decisive close below the trendline could open the door for a full retest of the $100K region before any rebound attempt occurs. However, if bears maintain momentum, the correction could deepen further—an outcome that would heavily influence the long-term BTC price prediction heading into 2026.
Trump’s 100% Tariff Sparks $19B Liquidation Bloodbath Across Crypto Markets
The U.S. President Donald Trump’s sudden declaration of a 100% tariff on Chinese imports has shaken global markets, igniting one of the most intense selloffs of 2025. The measure, scheduled to take effect on November 1, 2025, was described as a retaliatory response to China’s export restrictions, escalating already fragile trade relations.
The impact on digital assets was immediate. Bitcoin, Ethereum, and Solana all recorded steep declines within hours, resulting in a record-breaking $19.3 billion in liquidations across exchanges. More than 1,000 leveraged traders lost six-figure sums, while several accounts were completely wiped out—including one with over $19 million in losses on Hyperliquid.
This unprecedented liquidation event underscores the vulnerability of crypto markets to macroeconomic policy shocks. The sudden collapse in confidence has disrupted technical setups and amplified short-term bearish momentum. As geopolitical uncertainty lingers, Bitcoin’s recovery potential remains constrained, with volatility expected to persist through the final quarter of 2025.
To sum up, Bitcoin price faces intensified selling after the tariff-driven crash, with bears maintaining control below the mid-range zone. A retest of the $100K support appears increasingly likely before any meaningful rebound occurs, as macroeconomic tension continues to suppress buying interest. If global trade conditions worsen and sentiment remains fragile, the correction could deepen into early 2026.