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Crypto Market Sees $450M Liquidations Following US Tariff Announcement
The cryptocurrency market has witnessed a massive liquidation event, with approximately $450-500 million in combined liquidations of both long and short positions within a 24-hour period. This sudden price movement was triggered by the announcement of sweeping tariffs on US trading partners, which led to widespread uncertainty among investors.
Bitcoin’s price plummeted from $88,500 to around $83,500 as a result of this decision, causing significant turmoil in the global markets. Ethereum also saw a notable decline, dropping significantly after briefly surging amidst initial market reaction.
Asian markets experienced heavy losses, with the stock market suffering substantial losses. The S&P 500 reportedly erased over $2 trillion in market capitalization following the tariff announcement. Meanwhile, gold prices reached new highs as investors sought safe-haven assets.
Source: https://blockonomi.com/crypto-market-sees-450m-liquidations-following-us-tariff-announcement/
