Bitcoin plummets $9k as Trump’s tariffs spark over $1B liquidation frenzy
Bitcoin tumbled from $83,000 to $74,000 overnight, triggering over $1.36 billion in liquidations across digital asset markets, according to Coinglass.
The sharp correction followed escalating trade tensions, with U.S. President Donald Trump announcing sweeping tariffs on nearly all major trading partners late Friday.
More than 441,000 traders were liquidated over the 24 hours, with long positions accounting for $1.21 billion of the total. Bitcoin alone saw $401.31 million in long-side liquidations, with Ethereum contributing $341.82 million.
The most significant single liquidation order, valued at $16.38 million, occurred on Bitfinex’s perpetual contract. The top five assets by liquidation volume included BTC, ETH, SOL, XRP, and DOGE.
The move coincided with broader market turmoil. S&P 500 Futures Index ER dropped 10% over the weekend, following back-to-back daily losses exceeding 4% on Thursday and Friday, among one of the steepest two-day declines in index history.
The liquidation heatmap shows concentrated pressure on Bitcoin and Ethereum, though altcoins such as XRP, SOL, and DOGE also experienced significant drawdowns.
BTC’s 24-hour price declined 10.25%, ETH fell 19.84%, and most major altcoins posted double-digit losses. The data suggests the sell-off was long-heavy, with short liquidations remaining comparatively minimal.
While the pullback punctuates Bitcoin’s recent strength, peaking above $109,000 in January following Trump’s reelection and inauguration, it has now reversed to levels last since under Joe Biden.
Bitcoin has a strong resistance level of around $73,000, which I have advocated for being the local bottom of a sustained bull run. However, global pressure and the unprecedented tariffs have created a black swan event that no technical analysis can foreshadow.
As geopolitical tensions mount, digital asset markets are now repricing risk in tandem with traditional equities.
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