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>>Bitcoin rallies to over $111,000 following a significant $19 billion in crypto liquidations.

Bitcoin rallies to over $111,000 following a significant $19 billion in crypto liquidations.

crypthub

1 day ago

Market Crash Triggered by Tariffs

President Trump’s announcement of 100% tariffs on China and new export controls triggered a significant cryptocurrency market crash. Bitcoin (BTC) plummeted to a low of $102,000 on Binance, causing widespread fear and substantial losses across the market. This event is considered one of the largest liquidation events in crypto history, wiping out over $19 billion and liquidating millions of traders. Binance also experienced outages during the chaotic period, exacerbating the market turmoil.

Potential Market Manipulation

Following the crash, suspicion arose regarding possible market manipulation. A trader opened a Bitcoin short position minutes before the tariff announcement and profited significantly. This unusual timing fueled accusations of insider activity, prompting calls for a thorough investigation. The incident added another layer of concern amidst the already distressed market conditions.

Bitcoin’s Recovery and Future Outlook

Despite the dramatic downturn, Bitcoin has partially recovered, currently trading above $111,000. Spot Bitcoin ETFs helped cushion the downside, and optimistic sentiment briefly pushed the price to a new all-time high. However, future price action will be influenced by a Senate vote on a funding bill and ongoing US-China trade developments.