PANews, May 24 - According to CoinDesk, the cryptocurrency market experienced severe fluctuations due to the announcement by former U.S. President Trump of proposed tariffs of 50% on European Union imports and 25% on Apple iPhones. The price of Bitcoin rapidly fell from above $111,000, leading to turmoil in the cryptocurrency market. Coinglass data shows that in the past 24 hours, the total liquidation of cryptocurrency long positions has exceeded $500 million, with Bitcoin futures liquidations at approximately $182 million and Ethereum futures liquidations close to $142 million. Analysts believe this pullback occurred at a time when Bitcoin was gaining momentum due to ETF fund inflows and increased institutional interest, highlighting the significant impact of macro policy changes on the cryptocurrency market.
