The cryptocurrency market experienced a significant downturn over the weekend, with bullish crypto bets losing over $500 million in the past 24 hours. This decline comes after US President Donald Trump threatened a 50% tariff on all European Union imports and a 25% levy on imported Apple iPhones, sending markets tumbling.
Market Volatility and Liquidations
Bitcoin's price dropped sharply from above $111,000 to around $108,600, leading to significant losses across the crypto market. The largest single liquidation was a $9.53 million BTC-USDT swap on OKX, highlighting market volatility and potential turning points.
Crypto Losses
- *Bitcoin futures*: $181 million in losses
- *Ether futures*: nearly $142 million in losses
- *Altcoins*: an additional $100 million in liquidations, including notable wipeouts in SOL, DOGE, and XRP
Market Sentiment
The pullback arrived just as bitcoin was gaining momentum on ETF inflows and growing institutional interest, leading some to expect a calm weekend. Instead, volatility returned in full force. With the macro environment now destabilized by renewed trade war fears, traders may remain cautious heading into next week's sessions.
What's Next?
The cryptocurrency market is known for its volatility, and prices can fluctuate rapidly. As the market navigates this uncertain environment, traders and investors will be closely watching for signs of stability and potential buying opportunities.#TrumpTariffs #MarketPullback #CryptoMarkets #TrendingTopic