Wobble in Bitcoin, $ETH , $XRP Prices Cause Crypto Bulls and Bears to See $450M Liquidations Each
Bitcoin and other cryptocurrencies experienced sharp declines after initial gains, reflecting market uncertainty.
Higher-than-usual market volatility affected bulls and bears alike as crypto futures racked up $450 million in liquidations in the past 24 hours as U.S. tariffs went into play.
President Donald Trump officially levied a 25% tariff on auto imports and a minimum 10% tariff on all exporters to the U.S. Additional duties were imposed on the nation’s biggest trading partners in Asia and the European Union, with China facing a 50% hike on several goods and a 26% fee on some Indian goods.
Bitcoin inched above $87,000 as investors hoped for leaner long-term effects of the economic changes, with signs of a risk-on environment emerging at the start of the week. #Majors ether (ETH) and #xrp (XRP) traded above $1,900 and $2.15, respectively, with technical analysis suggesting higher moves in the near term.
But the euphoria was short-lived as crypto majors dipped as much as 5% from Wednesday’s highs before gradually stabilizing.
