Crypto Carnage: Trump Tariffs Trigger Unprecedented $10 Billion Wipeout
The cryptocurrency world was rocked by a bloodbath of historic proportions, as a market panic fueled by new US tariffs on China liquidated a staggering $9.55 billion from over 1.5 million traders. The sell-off represents what analysts are calling one of the largest single-day liquidation events ever witnessed in the digital asset space.
A tidal wave of selling vaporized $8 billion in bullish long positions, turning dreams of all-time highs into a cascade of margin calls. The two crypto giants, Bitcoin and Ethereum, led the decline with over $2.6 billion in combined liquidations.
In a stunning reversal, Bitcoin’s price collapsed, plummeting from a lofty $122,000 to briefly dip below $102,000—wiping out months of progress in a matter of hours and sending the total crypto market cap below the $4 trillion mark.
