Over the past 24 hours, crypto markets saw a historic liquidation event exceeding $10 billion, shaking traders and institutions alike, triggered by President Trump's announcement of a 100% tariff on Chinese goods
This sent shockwaves through traders and institutions alike. In the last 24 hours, liquidations topped $10 billion, making it one of the largest single-day forced liquidation events in crypto history. Over 1.6 million traders were affected, signifying a massive deleveraging wave amid heightened volatility.
This massive deleveraging was triggered primarily by President Trump's announcement of a 100% tariff on Chinese goods, which heightened geopolitical risks and rattled investor confidence. Combined with ongoing macroeconomic concerns such as rising inflation and challenging technical resistance, this fueled panic selling and rapid liquidations.
Crypto markets faced intense downward pressure after a swift decline in major assets like Bitcoin and Ethereum, leading to massive forced liquidations across multiple exchanges. The sharp plunge was amplified by the exit of leverage and profit-taking, fueling fears of further downside.
Bitcoin hit a low near $102,000 before recovering to about $112,766.30 Saturday Morning European time. Ethereum dropped to around $3,739.24 and has since rebounded slightly to approximately $3,812.54. Solana experienced a sharp dip to about $168, and it currently trades near $185. These price movements reflect significant volatility caused by recent market turmoil and liquidations, followed by a partial recovery as traders adjusted positions and market sentiment stabilized.
Altcoins were hit even harder, with some crashing up to 90%. This sharp downturn marks one of the largest single-day liquidation events in crypto history, causing widespread panic and highlighting the market's sensitivity to global geopolitical tensions.
