[Bitcoin Now] Stumbles Amid Escalating US-China Tensions...$113,000 Level Collapses

Amid escalating trade tensions between the United States and China, the prices of virtual assets such as Bitcoin have plummeted across the board.

As of 2:05 p.m. on October 11, according to CoinMarketCap, a global cryptocurrency market tracking site, Bitcoin was trading at $112,804, down 6.86% from 24 hours earlier.

Ethereum, the second-largest cryptocurrency by market capitalization, was trading at $3,825, down 11.77%.

Binance Coin (BNB) fell 9.98% to $1,138, Ripple (XRP) dropped 13.16% to $2.44, and Solana plunged 15.78% to $186.17.

The sharp decline in virtual asset prices on this day is believed to be due to U.S. President Donald Trump’s announcement that he would impose additional tariffs on China.

On October 10 (local time), President Trump stated on the social media platform Truth Social that, in response to China’s rare earth export control measures, he would impose an additional 100% tariff on Chinese goods starting November 1.