Bitcoin Crashes Hard After Trump’s 100% Tariff on China Announcement

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Bitcoin plunged from above $120K to $111K after Trump’s 100% China tariff news. The crypto market fell over 10% in hours.Bitcoin Suffers Its Worst Crash of the YearThe crypto market was thrown into chaos late Friday as Bitcoin ($BTC) crashed from above $120,000 to a low near $111,000, wiping out billions in market value within hours. The sudden drop marks the steepest one-day decline of 2025, with BTC falling over 7% in 24 hours and triggering a wider sell-off across all major altcoins.The catalyst? It's President Trump.This shock announcement rattled global markets, sending investors fleeing from risk assets — including crypto — in a classic risk-off move.Chart Analysis: Freefall from Key SupportAs shown in the below chart, BTCUSD collapsed below multiple key levels in a single candle:Lost support at $118,600, turning it into resistance.Fell through the 50-day SMA (~$114,500), signaling a sharp momentum shift.Briefly touched $111,350, just above a crucial support cluster near $...