Trump's New Duties Caused The Crypto Market To Collapse To Historic Lows
Bitcoin, ether and solanium have been hit the hardest due to Donald Trump's threat to impose new 100% tariffs on China.
- Bitcoin: $5 billion worth of positions liquidated, with the price falling to $103,000 followed by a rebound to $111,600.
- Ethereum (ether): minus $4 billion, slipping from $4,365 to $3,742.
- Solana: loss of more than $2 billion, falling nearly 20%, to $178.
CoinGlass said it was "the largest liquidation event in the history of cryptocurrencies."
The panic in the crypto market coincided with a sharp decline in traditional financial indices, with the Nasdaq and S&P 500 recording their worst day in six months.
Author's summary: Trump's tariffs caused crypto market collapse.