Trump's New Tariffs Threat Causes Crypto Market Collapse
The crypto market has collapsed to historic lows due to Donald Trump's threat to impose new 100% tariffs on China.
Hardest Hit Cryptocurrencies
- Bitcoin: $5 billion worth of positions liquidated, with the price falling to $10,300 and then rebounding to $11,160.
- 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 crypto market collapse coincided with a sharp decline in traditional financial indices, including the Nasdaq and S&P 500, which recorded their worst day in six months.
Author's summary: Trump's tariffs threat crashes crypto market.
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