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 100% tariffs on China.
- Bitcoin: $5 billion worth of positions liquidated, price fell to $10,300 then rebounded to $11,160, but the text actually says it fell to $103,000 and then rebounded to $111,600.
- Ethereum (ether): minus $4 billion, price slipped from $4,365 to $3,742.
- Solana: loss of more than $2 billion, fell nearly 20% to $178.
CoinGlass said it was "the largest liquidation event in the history of cryptocurrencies."
The panic in the crypto market coincided with a sharp decline in traditional financial indices, with the Nasdaq and S&P 500 recording their worst day in six months.
Author's summary: Trump's tariffs cause crypto collapse.
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