Trump's New Duties Cause Crypto Market Collapse
The crypto market has collapsed to historic lows due to Donald Trump's threat to impose new tariffs on China.
- Bitcoin: $5 billion in liquidations, price fell to $10,300 then rebounded to $11,160.
- Ethereum (ether): $4 billion loss, price slipped from $4,365 to $3,742.
- Solana: over $2 billion loss, price fell nearly 20% to $178.
CoinGlass said it was "the largest liquidation event in the history of cryptocurrencies."
The crypto market panic coincided with a sharp decline in traditional financial indices, including the Nasdaq and S&P 500.
Author's summary: Trump's tariffs caused crypto market collapse.