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>>Bitcoin rebounds slightly following a significant price decline, though liquidations remain substantial. Updated data is available.

Bitcoin rebounds slightly following a significant price decline, though liquidations remain substantial. Updated data is available.

crypthub

1 day ago

Market Reaction to Trump's Tariffs

Donald Trump’s announcement of 100% tariffs on China triggered substantial volatility within the cryptocurrency market. Investor uncertainty fueled widespread sell-offs, impacting various digital assets significantly. The sudden news created a wave of panic, resulting in abrupt price declines across the sector.

Significant Price Drops and Liquidations

Bitcoin's price dropped to $102,000 following the announcement, eventually recovering slightly to $113,285, with a 6.78% overall loss. Ethereum experienced a more pronounced decline, falling 10.83% and showing a weekly loss exceeding 14%. Other major cryptocurrencies like BNB, XRP, Solana, Dogecoin and Cardano also registered considerable drops in value.

Position Liquidations and Exchange Activity

The market saw a total of $8.99 billion in positions liquidated within 24 hours, with the majority of those being long positions. Bitcoin and Ethereum accounted for the largest share of these liquidations, followed by Solana and XRP. Binance subsequently issued an important announcement related to the market’s fluctuations.