Bitcoin Slips Below $104K Amid $600M in Liquidations as Trump’s Tariff Hike Shakes Markets
Bitcoin's price plunged below the $104,000 mark, triggering more than $600 million in liquidations across the crypto market—the largest losses recorded since February. The sudden downturn has sent shockwaves through investors and analysts alike, signaling renewed volatility in the digital asset space.
The broader sell-off coincided with a major geopolitical development: U.S. President Donald Trump’s decision to raise tariffs on Chinese steel and aluminum. The unexpected move has rattled global trade markets and appears to have spilled over into crypto, traditionally seen as a risk-on asset.
Other leading cryptocurrencies also saw steep declines. Ethereum (Ether), Ripple (XRP), and Solana all posted significant losses, compounding the overall downward pressure in the market.
The combination of political uncertainty and renewed trade tensions has added fresh layers of complexity to an already fragile financial landscape. As markets digest the implications of Trump's latest trade policy, investors remain cautious, with many bracing for further turbulence in both traditional and digital asset classes
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