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Bitcoin fell to $60k after Trump’s tariff threat and his USD1 stablecoin surge, sparking a market sell‑off. See the price drop, catalyst and what to watch next.
Bitcoin slid to roughly $60,000 on the week of October 10, 2025—about half its all‑time high of $126,000 reached in October 2025—after President Trump’s threat of a 100% tariff on Chinese imports sparked a broad sell‑off in crypto assets [2]. The drop coincided with the rapid rise of the Trump‑family‑backed USD1 stablecoin, which entered the world’s top‑seven stablecoins after a $2 billion Binance investment in May 2025 [1].
| At a glance | |
|---|---|
| Price | ~$60,000 |
| 24‑h change | – ≈ 30% (from $85,000) |
| Key level | Below $65,000 support |
| Catalyst | Oct 10 tariff threat & USD1 stablecoin surge |
The October 10 announcement added a 100% tariff on Chinese imports to the existing 30% duty, unsettling traders who had been betting on a “crypto‑friendly” Trump administration. The immediate reaction was a flood of sell orders across crypto markets, dragging Bitcoin down from $85,000 to $60,000 within days [2]. The move erased roughly $1 trillion of market value and left the broader crypto sector in a “contagion” phase, as leveraged positions were liquidated and margin calls amplified losses.
While Bitcoin was tumbling, the Trump‑linked stablecoin USD1 vaulted into prominence. World Liberty Financial, owned 60% by Trump’s family trust, launched USD1 in March 2025 and secured a $2 billion investment from a UAE firm to purchase Binance tokens [1]. That deal vaulted USD1 into the seventh‑largest stablecoin by market cap, raising concerns about the intertwining of political influence and crypto liquidity. Critics argue the stablecoin’s rapid growth may have siphoned capital from Bitcoin and other assets just as market sentiment turned negative [1].
| Token metric | Detail |
|---|---|
| Stablecoin rank | 7th largest globally |
| Investment backing | $2 billion Binance deal |
| Ownership | 75% of token sale proceeds to Trump family [1] |
The Bitcoin collapse underscores how policy shocks and politically‑linked crypto ventures can together destabilize the market. Whether the USD1 stablecoin will become a lasting fixture or a catalyst for further volatility remains an open question.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Jun 17, 2026 · How we report
The CLARITY Act is scheduled for a Senate cloture vote at 2:15 p.m. ET on 15 September 2026. The legislation, which includes provisions for non-decentralized DeFi protocols, requires 60 votes to advance past the debate stage.
Bitcoin open interest dropped by 13.5% as of 15 September 2026 because traders proactively cut leverage to manage risks associated with the upcoming CLARITY Act vote and Federal Reserve rate decision. This reduction in derivatives exposure occurred before the events took place rather than as a result of forced liquidations.
Market analysts are divided on the immediate price direction for Bitcoin, with some technical indicators flagging a negative outlook if the price breaks below $76,500. While the long-term weekly trend remains constructive, the market is currently structured to absorb the outcome of the Federal Reserve decision rather than predict a specific price movement.
Bitcoin is up 22.2% over the 30-day period leading up to 15 September 2026. This performance follows a rally that saw the price move from approximately $63,000 to $81,700 during August.