Crypto News Today: Market Rebounds Strongly After Record Selloff

The cryptocurrency market has experienced a remarkable turnaround following its most significant selloff in history. On October 12, 2025, Bitcoin (BTC) plunged 8.4% to $104,782, triggering a broader market rout that erased $19 billion in value. This sharp decline was sparked by U.S. President Donald Trump’s announcement of a 100% tariff on Chinese tech exports and stringent export controls on critical software. The move, intended as a response to China’s alleged aggressive trade practices, particularly its restrictions on rare earth minerals, sent shockwaves through global financial markets, including cryptocurrencies.