- Bitcoin Price Drop:

- Fell below $110,000, marking a 10% decline over the past 24 hours

- Briefly dipped to $101,000 after Trump's 100% tariff threats against China

- Currently trading at $112,741 with a 7.5% decrease

- Liquidations:

- Over $16 billion in leveraged crypto positions liquidated across major exchanges

- $19.13 billion in liquidations reported, with 1.6 million traders affected

- Long positions accounted for most of the liquidations, with $16.7 billion wiped out

- Total crypto market cap dropped to $3.87 trillion

Causes:

- Trump's 100% tariff announcement on China sparked a global risk-off wave

- Escalating U.S.-China trade tensions and macroeconomic uncertainty contributed to the sell-off