Bitcoin, Ether Drop as U.S.–China Tensions Flare

Bitcoin, Ether Drop as U.S.–China Tensions Flare

On October 14, Bitcoin and Ethereum experienced a notable decline amid escalating trade tensions between the U.S. and China, wiping out gains from the previous day. Bitcoin fell as low as $110,023.78 before recovering modestly to $113,129, down roughly 2.3%. Ethereum dropped from $4,128.47 to about $3,900.80, a 3.7% slide. Altcoins were hit hardest — some lost up to 80% on certain exchanges due to leveraged liquidations. Exchanges themselves contributed to the downturn by forcibly closing margin positions when collateral requirements weren’t met. The backdrop: China and the U.S. imposed new port fees on shipping companies, intensifying the trade dispute.