Bitcoin extends decline to $104,782 as Trump escalates US-China trade war

ReutersOct 10, 2025 10:06 PM

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Oct 10 (Reuters) - Bitcoin, the world's largest cryptocurrency by market value, extended declines on Friday after U.S. President Donald Trump escalated his trade conflict with China.

Trump on Friday said he was raising tariffs on Chinese exports to the U.S. to 100% and imposing export controls on "any and all critical software" in a reprisal to recently announced export limits by China on rare earth minerals critical to tech and other manufacturing.

The spat shook global financial markets, sending the benchmark S&P 500 Index .SPX sliding by more than 2%.

Bitcoin BTC= was last down 8.4% at $104,782 as of 17:20 ET (2120 GMT).

Ethereum ETH=, the world's second-largest cryptocurrency, fell 5.8% to $3637 at 17:21 ET.

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