U.S. President Donald #Trump threatened a 50% tariff on all European Union imports and a 25% levy on imported Apple iPhones late Friday, sending markets tumbling.
What to know:
Bullish crypto bets lost over $500 million as markets reacted to President Trump's tariff threats.
Bitcoin's price dropped sharply, leading to significant losses across the crypto market, including ether, Solana, XRP, and dogecoin.
The largest single liquidation was a $9.53 million BTC-USDT swap on OKX, highlighting market volatility and potential turning points.
Bullish crypto bets lost over $500 million in the past 24 hours as traders took profits and markets slid following President Donald Trump’s fresh threats of tariffs on European imports and Apple products, sparking a wave of liquidations.
Bitcoin, which had been trading above $111,000, dropped quickly to around $108,600, wiping out intraday gains and rattling broader market sentiment.
BTC’s drop was mirrored across the crypto complex, with futures tracking ether (ETH), Solana’s SOL, xrp (XRP) and dogecoin (DOGE) showing losses from $30 million to over $100 million.
Bitcoin futures saw roughly $181 million in losses, while Ether futures accounted for nearly $142 million. Altcoins added another $100 million in liquidations, including notable wipeouts in SOL, DOGE, and XRP.