Bitcoin (BTC) Price Prediction: Trump’s 100% Tariff Triggers Bitcoin Selloff, but Blockchain Strength Hints at Recovery
The post Bitcoin (BTC) Price Prediction: Trump’s 100% Tariff Triggers Bitcoin Selloff, but Blockchain Strength Hints at Recovery appeared on BitcoinEthereumNews.com.
Bitcoin (BTC) price dropped sharply this week as Trump’s 100% tariff on Chinese imports rattled markets, triggering a selloff; analysts say blockchain strength and Bitcoin ETFs may support a recovery. The tariff-induced volatility pushed Bitcoin briefly below $120,000, its steepest intraday decline in weeks, but strong institutional inflows and resilient blockchain fundamentals suggest BTC could regain momentum soon. Tariffs Trigger Market Turbulence as Bitcoin Extends Decline Bitcoin (BTC) faced a sharp correction on October 10 after U.S. President Donald Trump announced a sweeping 100% tariff on Chinese imports in retaliation for Beijing’s rare earth export restrictions. The move rattled global markets, sending U.S. stocks down more than 2%—the steepest single-day drop since April—and wiping nearly $200 billion off the global crypto market. Trump announces a 100% tariff on China starting Nov 1, reigniting fears of a new trade war and market turbulence. Source: @Geiger_Capital via X According to data from Brave New Coin, Bitcoin prices fell nearly 10% to $106,000, down from previous highs above $120,000 earlier in the week. The selloff triggered over $19 billion in crypto liquidations, making it one of the most volatile sessions since the April 2024 Bitcoin halving. The sell pressure came as traders reacted to fears of supply chain disruptions, particularly for tech sectors reliant on Chinese rare earth elements. Tom Lee Calls It a “Buying Opportunity” Despite the panic, some analysts view the pullback as temporary. Fundstrat’s Tom Lee said in a CNBC interview that the market reaction reflects short-term fear rather than structural weakness. “Unless there’s a real structural change, this pullback is a buying opportunity,” Lee noted, adding that “blockchain and AI remain the key drivers of this cycle.” Tom Lee calls Bitcoin’s tariff-driven dip a potential buying opportunity, citing blockchain and AI as key long-term market drivers. Source: @RealAllinCrypto via…
