Crypto’s Wild Ride: 20% Gains Vanish as China Hits Back with Tariffs

The crypto market saw a major surge followed by an abrupt reversal in the past 24 hours, as investors initially bought the dip after Monday’s massive $2.2 billion sell-off. But just as traders were celebrating, China’s retaliatory tariffs on the U.S. wiped out much of the gains.

What Happened?

🔹 XRP, Dogecoin (DOGE), Solana (SOL), and Cardano (ADA) soared nearly 20% before pulling back.
🔹 Bitcoin (BTC) and Ethereum (ETH) held on to 4% gains, while some altcoins managed to stay up around 3%.
🔹 The rally was cut short when China announced a 10% tariff on U.S. imports, responding to Trump’s earlier trade restrictions.

Why Did Crypto Reverse?

The latest U.S.-China trade conflict is making investors nervous, affecting global markets—including crypto.

Ben El-Baz, Managing Director at HashKey Global, warned that a prolonged trade war could reduce risk appetite, making it harder for crypto to maintain its bull run. However, he noted that pro-crypto policies in the U.S. could help counteract the damage.

Min Jung, a research analyst at Prestro Research, pointed out that Bitcoin still trades like a risk asset, meaning it reacts to global tensions much like stocks do.

More Volatility Ahead?

The biggest question now is whether China’s move is just a negotiation tactic—similar to the temporary tariff pause with Canada and Mexico—or if it marks the start of a prolonged trade war.

While some traders saw gains from buying the dip, analysts warn that more volatility is expected as markets react to further developments.

One thing is certain—crypto is once again at the center of global economic shifts, and traders should buckle up for what’s next.

bitcoin
Bitcoin (BTC) $ 96,313.81
ethereum
Ethereum (ETH) $ 2,633.11
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.42
solana
Solana (SOL) $ 196.29
bnb
BNB (BNB) $ 638.79
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.254693
cardano
Cardano (ADA) $ 0.773164
staked-ether
Lido Staked Ether (STETH) $ 2,629.21
tron
TRON (TRX) $ 0.240883
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 96,253.79
chainlink
Chainlink (LINK) $ 18.70
wrapped-steth
Wrapped stETH (WSTETH) $ 3,136.91
avalanche-2
Avalanche (AVAX) $ 25.24
sui
Sui (SUI) $ 3.29
stellar
Stellar (XLM) $ 0.318105
the-open-network
Toncoin (TON) $ 3.74
shiba-inu
Shiba Inu (SHIB) $ 0.000016
leo-token
LEO Token (LEO) $ 9.84
litecoin
Litecoin (LTC) $ 118.11
hedera-hashgraph
Hedera (HBAR) $ 0.225041
usds
USDS (USDS) $ 1.00
hyperliquid
Hyperliquid (HYPE) $ 23.88
weth
WETH (WETH) $ 2,633.39
polkadot
Polkadot (DOT) $ 4.86
bitget-token
Bitget Token (BGB) $ 6.10
bitcoin-cash
Bitcoin Cash (BCH) $ 332.51
ethena-usde
Ethena USDe (USDE) $ 1.00
mantra-dao
MANTRA (OM) $ 5.93
uniswap
Uniswap (UNI) $ 9.56
wrapped-eeth
Wrapped eETH (WEETH) $ 2,790.05
ondo-finance
Ondo (ONDO) $ 1.35
monero
Monero (XMR) $ 222.80
pepe
Pepe (PEPE) $ 0.000010
whitebit
WhiteBIT Coin (WBT) $ 27.43
near
NEAR Protocol (NEAR) $ 3.21
aave
Aave (AAVE) $ 245.21
dai
Dai (DAI) $ 0.999990
mantle
Mantle (MNT) $ 1.03
internet-computer
Internet Computer (ICP) $ 7.14
aptos
Aptos (APT) $ 5.94
bittensor
Bittensor (TAO) $ 401.30
susds
sUSDS (SUSDS) $ 1.04
ethereum-classic
Ethereum Classic (ETC) $ 20.49
official-trump
Official Trump (TRUMP) $ 15.38
okb
OKB (OKB) $ 50.01
gatechain-token
Gate (GT) $ 22.08
vechain
VeChain (VET) $ 0.033405
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.311033