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Does the Bitcoin 'Debasement Trade' Narrative Still Hold Up After the Crash?
Yahoo Finance· 2025-10-14 23:40
Bitcoin had been on a roll, hitting a new high of over $126,000 at the start of last week. But then on Friday, markets suffered a shock following the latest Trump trade war move: A threat of "massive" new tariffs on China. Following President Trump's social media post, the result was nothing short of catastrophic, with the largest single-day wipeout in history—over $19 billion in largely leveraged crypto futures positions liquidated. Bitcoin's price nosedived—albeit briefly—to under $110,000. It has since ...