Under Trump's tariff measures, the cryptocurrency market recorded the largest single-day liquidation in history, reaching $2.23 billion

Click the avatar live to watch the live broadcast and catch the bull market dynamics

The cryptocurrency market experienced a historic liquidation event in the past 24 hours, with a liquidation amount exceeding $2.23 billion, making it the largest single-day liquidation event in cryptocurrency history.

This event surpassed the large-scale liquidations during the COVID-19 pandemic and the collapses of LUNA and FTX. Bitcoin's price fell below $95,000, hitting a low of $91,000, while Ethereum dropped 20% to $2,300.

The market turmoil was triggered by the trade war initiated by former President Donald Trump, who imposed a 25% tariff on Canada, Mexico, and China. This led to a large number of long positions being liquidated, with losses in Ethereum and Bitcoin reaching $600 million and $400 million, respectively.

Altcoins also faced significant declines, with many altcoins losing 15% to 30% of their value during the same period. A total of 723,626 traders were liquidated, with the largest single liquidation occurring on Binance, with ETHBTC valued at $25.64 million. During the same period, 714,000 traders and $2.18 billion were also liquidated. In addition, the cryptocurrency market lost over $188 billion.

Click the avatar live to watch the live broadcast and catch the bull market dynamics