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>>Chinese analytics company conducts a thorough market review after the drop in Bitcoin and altcoins, outlining expectations for the coming weeks

Chinese analytics company conducts a thorough market review after the drop in Bitcoin and altcoins, outlining expectations for the coming weeks

crypthub

about 14 hours ago

Market Shock and Crypto Liquidation

QCP Capital linked the sharp volatility to President Trump’s 100% tariffs on Chinese imports, which triggered the largest crypto liquidation ever. Bitcoin fell briefly to $102,000 before rebounding to $112,000. Roughly $19 billion of leveraged positions were erased in the scramble.

Binance Anomalies

On Binance, the USD‑pegged token plunged to $0.65, wBETH traded at a 90% discount, and BNSOL dropped more than 80%, while other exchanges stayed relatively calm. QCP suspects a coordinated attack, noting recent system updates that may have opened a “window of vulnerability.” The extreme swings were unique to Binance during the episode.

Broader Market Impact and Outlook

Global equities tumbled, with the Nasdaq down 3.5% and the S&P 500 falling 2.7%. BTC’s one‑week implied volatility spiked to 98 before easing to 50 as the market steadied. QCP warns liquidity remains fragile, policy risk stays high, and China’s response will shape crypto direction in the coming weeks.