tl;dr
Crypto assets are experiencing a new round of liquidations due to President Trump's tariffs, causing global market instability. Bitcoin's price has dropped from $87,790 to $82,223 in 24 hours, leading to $518 billion in liquidations across the digital asset market. The Dow Jones is down over 1,000 p...
Crypto assets are experiencing a new round of liquidations due to President Trump's tariffs, causing global market instability. Bitcoin's price has dropped from $87,790 to $82,223 in 24 hours, leading to $518 billion in liquidations across the digital asset market.
The Dow Jones is down over 1,000 points in after-hours trading, S&P 500 futures have fallen by 3.5%, and Nasdaq 100 futures have dropped by 4.2%. Trump has imposed a 10% tariff on all imported goods entering the US and announced reciprocal tariffs on specific countries, with rates up to 54% on China, to address unfair trade practices.
Crypto assets are witnessing a fresh wave of liquidations as President Trump’s new tariffs rock global markets. Trump’s new blanket tariffs target a long list of nations and go further than many analysts expected, sparking widespread economic uncertainty and volatility in both traditional and digital asset markets.
Bitcoin’s price has plummeted from a 24-hour high of $87,790 down to $82,223 at time of publishing, with $518 billion in liquidations hitting BTC and the digital asset market at large in the last day, according to CoinGlass. The Dow Jones Industrial Average is down more than 1,000 points in after-hours trading, the S&P 500 futures have dropped by 3.5% and the Nasdaq 100 futures have dropped 4.2%.
Trump has signed an executive order imposing a 10% tariff on all imported goods entering the US, effective April 5th, with the stated goal of protecting domestic manufacturing. He also issued a proclamation detailing “reciprocal tariffs” on dozens of specific countries effective April 9th, with rates totaling up to 54% on China. At a Rose Garden address, Trump said the reciprocal tariffs are designed to address decades of unfair trade practices and restore economic fairness for the United States.