Trump's tariff threats trigger turbulence in the cryptocurrency market, with over $500 million in long liquidations in 24 hours.
Following the announcement by former U.S. President Trump to impose a 50% tariff on EU imports and a 25% tariff on Apple iPhones, the cryptocurrency market experienced severe volatility.
Bitcoin's price rapidly dropped from levels above $111,000, leading to turmoil in market sentiment.
Coinglass data shows that the total amount of long liquidations in the cryptocurrency market in the past 24 hours has exceeded $500 million, with approximately $182 million in Bitcoin futures liquidations and nearly $142 million in Ethereum futures liquidations.
Analysts believe that this pullback occurred at a moment when Bitcoin was gaining momentum due to ETF inflows and rising institutional interest, highlighting the significant impact of macro policy changes on the cryptocurrency market.
